EU proposes rules targeting cybersecurity risks of smart devices

FILE PHOTO: Broken Ethernet cable is seen in front of binary code and words "cyber security" in this illustration taken March 8, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

BRUSSELS (Reuters) -From laptops to fridges to mobile apps, smart devices connected to the internet will have to be assessed for their cybersecurity risks under draft European Union rules announced on Thursday, amid concerns about a spate of cyber attacks.

Companies face fines of as much as 15 million euros ($15 million) or up to 2.5% of their total global turnover if they fail to comply with the European Commission's proposed law known as the Cyber Resilience Act, which will require manufacturers to fix any problems that are identified.