Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

New laws to protect consumers from cyber criminals come into force in the UK

by April 29, 2024
April 29, 2024
New laws to protect consumers from cyber criminals come into force in the UK

Consumer protections against hacking and cyber-attacks will come into force today, as all internet connected smart devices will be required by law to meet minimum-security standards.

Manufacturers will be legally required to protect consumers from hackers and cyber criminals from accessing devices with internet or network connectivity – from smartphones to games consoles and connected fridges – as the UK becomes the first country in the world to introduce these laws.

Under the new regime, manufacturers will be banned from having weak, easily guessable default passwords like ‘admin’ or ‘12345’ and if there is a common password the user will be promoted to change it on start-up. This will help prevent threats like the damaging Mirai attack in 2016 which saw 300,000 smart products compromised due to weak security features and used to attack major internet platforms and services, leaving much of the US East Coast without internet. Since then, similar attacks have occurred on UK banks including Lloyds and RBS leading to disruption to customers.

The move marks a significant step towards boosting the UK’s resilience towards cyber-crime, as recent figures show 99% of UK adults own at least one smart device and UK households own an average of nine connected devices. The new regime will also help give customers confidence in buying and using products, which will in turn help grow businesses and the economy.

An investigation conducted by Which? showed that a home filled with smart devices could be exposed to more than 12,000 hacking attacks from across the world in a single week, with a total of 2,684 attempts to guess weak default passwords on just five devices.

Minister for Cyber Viscount Camrose, said:   “As every-day life becomes increasingly dependent on connected devices, the threats generated by the internet multiply and become even greater.

“From today, consumers will have greater peace of mind that their smart devices are protected from cyber criminals, as we introduce world first laws that will make sure their personal privacy, data and finances are safe.

“We are committed to making the UK the safest place in the world to be online and these new regulations mark a significant leap towards a more secure digital world.”

Data and Digital Infrastructure Minister Julia Lopez added: “Today marks a new era where consumers can have greater confidence that their smart devices, such as phones and broadband routers, are shielded from cyber threats, and the integrity of personal privacy, data and finances better protected.

“Our pledge to establish the UK as the global standard for online safety takes a big step forward with these regulations, moving us closer to our goal of a digitally secure future.”

With 57% of households owning a smart TV, 53% owning a voice assistant and 49% owning a smart watch or fitness wristband, this new regime reinforces the government’s commitments to addressing these threats to society and the economy head on.

The laws are coming into force as part of the Product Security and Telecommunications Infrastructure (PSTI) regime, which has been designed to improve the UK’s resilience from cyber-attacks and ensure malign interference does not impact the wider UK and global economy.

The UK Government has collaborated with industry leaders to introduce this raft of transformative protections, which also include manufacturers having to publish information on how to report security issues to increase the speed at which they can address these problems. In addition, consumers and cyber security experts can play an active role in protecting themselves and society from cyber criminals by reporting any products which don’t comply to the Office for Product Safety and Standards (OPSS).

The government is beginning the legislative process for certain automotive vehicles to be exempt from the product security regulatory regime, as they will be covered by alternative legislation.

This new regime intends to increase consumer confidence in the security of the products they buy and use, delivering on one of the Government’s five priorities to grow the economy. The new laws are part of the government’s £2.6 billion National Cyber Strategy to protect and promote the UK online.

Read more:
New laws to protect consumers from cyber criminals come into force in the UK

0
FacebookTwitterGoogle +Pinterest
previous post
UK Motor Insurance Costs Surge by a Third in a Year, Putting Pressure on Households
next post
Declining Job Vacancies Stoke Hopes for Interest Rate Cuts Amid Cooling Labour Market

You may also like

How the ESG agenda evolved in Russia: Detsky...

January 16, 2024

Services sector slashes jobs for fifth month running...

March 5, 2025

The Body Shop Faces Administration in UK Amidst...

February 11, 2024

Slight rise in female FTSE board members, but...

June 15, 2023

Young enterprise achieves 60th anniversary milestone – after...

May 25, 2023

Chinese EV battery maker in talks to invest...

March 25, 2024

Elon Musk’s satellites to be part of UK...

December 1, 2022

The Bahamas Could Be the Ideal Destination for...

August 7, 2023

Trump presidency could divert $33 billion in Chinese...

January 22, 2025

Revised 2023 UK economic growth figures show significant...

September 30, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • What Musk’s fracture with Trump means for GOP’s future: ‘Beating heart of the Republican Party’

      July 20, 2025
    • The Best Five Sectors, #28

      July 20, 2025
    • Why More Businesses Are Choosing a Fractional CMO Instead of Agencies and Junior Hires

      July 19, 2025
    • ‘Get a job’: Medicaid work requirements included in Trump’s megabill sparks partisan debate on Capitol Hill

      July 19, 2025
    • Trump has now been in office for six months, for the second time. Here are the highlights

      July 19, 2025
    • Week Ahead: NIFTY Violates Short-Term Supports; Stays Tentative Devoid Of Any Major Triggers

      July 19, 2025

    Categories

    • Business (8,525)
    • Investing (2,134)
    • Politics (16,123)
    • Stocks (3,222)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved