5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
No Result
View All Result
Home Investing

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

by
April 29, 2024
in Investing
0
New laws to protect consumers from cyber criminals come into force in the UK

<?xml encoding=”utf-8″ ?????????>

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.

Previous Post

Digital life-insurer Singlife Philippines wins four Digital CX Awards from The Digital Banker

Next Post

UK Motor Insurance Costs Surge by a Third in a Year, Putting Pressure on Households

Next Post
UK Motor Insurance Costs Surge by a Third in a Year, Putting Pressure on Households

UK Motor Insurance Costs Surge by a Third in a Year, Putting Pressure on Households

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.







    Fill Out & Get More Relevant News





    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.
    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Recommended

    Here’s how your garden grows with Wilcon

    Here’s how your garden grows with Wilcon

    May 16, 2025
    Millennial campaign strategist topples Quezon town’s 33-year dominance

    Millennial campaign strategist topples Quezon town’s 33-year dominance

    May 16, 2025
    Aviva warns against forcing UK pension funds to buy domestic assets

    Aviva warns against forcing UK pension funds to buy domestic assets

    May 16, 2025
    From Desert to Downtown: Choosing the Right Car for Your Dubai Adventure

    From Desert to Downtown: Choosing the Right Car for Your Dubai Adventure

    May 16, 2025

    Disclaimer: 5GInvestmentNews.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.

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2024 5GInvestmentNews. All Rights Reserved.

    No Result
    View All Result
    • Home
    • Privacy Policy
    • suspicious engagement
    • Terms & Conditions
    • Thank you

    © 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.