‘European Commission can remove IoT devices with weak security from the market’

The European Commission is working on regulations that will make it possible to remove IoT devices with weak security from the market. That writes business newspaper Financial Times. Makers of those devices can also receive millions of fines if they do not have the security in order.

In case of proven weak security, a recall of products by the European Commission is possible, reports Financial Times. The Commission can also ban products in the European Union for serious violations. In addition, fines of 15 million euros or 2.5 percent of annual turnover will apply, whichever is higher. There would also be a reporting obligation for security vulnerabilities and manufacturers must come up with patches.

The newspaper has seen a draft of the legislation. Next week, the European Commission would like to present the regulations, after which the rules should apply from 2024. It is unknown what exactly would and would not fall under the rules, but the Financial Times mentions smart kettles and refrigerators as examples. Thermostats, security cameras and other smart home equipment are also often regarded as IoT devices. It was already known that the Commission was working on the rules.