A new legislation was introduced in the Britain’s parliament last week aiming to better protect IoT devices from sophisticated hackers. Dubbed as “The Product Security and Telecommunications Infrastructure(PSTI) bill, it requests those involved in the manufacturing of Internet of Things such as smart TVs, CCTVs, smart phones and fitness trackers; to follow basic standards while offering service and products to consumers.
It includes creating an unbiased reporting platform where public could report vulnerabilities in a timely manner, banning the use of passwords that are used worldwide by default, and urging the companies to be transparent while addressing fixes to detected security flaws. And last but not the least; maintain digital records that help in confirming whether the company is complying with the laws related to data privacy & security prevailing in the region.
Now, comes the big question…what if companies indulging in the manufacturing of IoT cannot comply with the newly planned Britain’s digital law..?
Well, it’s simple….the company that doesn’t comply with the above stated laws will face heavy fines, based… its annual global turnover. And it could be between £20k per day as well.
The regulatory authority will have the power to issue a ban on the business that doesn’t adhere to its law and can also issue orders for the recall of the products and their sale in Britain and sometimes across Europe.
According to a report released by privacy advocating firm which?, an increase of 50% was witnessed in using IoT devices since 2019 with nine among 10 homes in UK using such gadgets to fulfill their day-to-day needs and chores.
Predictably, there has been an equal amount of increase in cyber attacks on connected devices, with over 12,000 cyber attacks targeting them every week.
Dr. Ian Levy, the Technical Director of NCSC, stated the bill will help in blocking technical attacks on gadgets such as phones, baby monitors, doorbells, thermostats, smart TVs and dishwashers.
Hope it does!