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Market
Reduction in IoT device hacks due to strong password law by end of 2024?
5
Resolution / Starting Odds
Yes • 50%
No • 50%
UK government cybersecurity report or major cybersecurity firm's annual report
Story
UK Enacts First Law Banning Weak Default Passwords on Smart Devices
Apr 29, 2024, 11:37 AM
The UK has introduced a groundbreaking law that bans the use of weak default passwords such as '12345' and 'admin' on smart devices. This legislation, which is the first of its kind globally, aims to bolster cyber security by setting minimum security standards for Internet of Things (IoT) devices. The new regulations apply to a range of consumer products including voice assistants and smart speakers, providing enhanced protection against cyber threats. The law was enacted to prevent scenarios like the 2016 Mirai botnet attack, which exploited weak passwords to create massive disruptions.
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Similar markets
Yes • 50%
No • 50%
Above 80% • 50%
Below 80% • 50%
Significant Improvement • 25%
Moderate Improvement • 25%
Minimal Improvement • 25%
No Improvement • 25%
Full Compliance • 25%
Partial Compliance • 25%
Non-Compliance • 25%
Withdrawal from the UK market • 25%
Yes • 50%
No • 50%
Google • 20%
Amazon • 20%
Apple • 20%
Samsung • 20%
Xiaomi • 20%
Botnet Attacks • 33%
Ransomware Attacks • 33%
Data Breaches • 34%
