Password Managers Just Became Even More Important – Technologist

The UK government has taken a significant step forward in enhancing cyber security for consumers and businesses with the implementation of the Product Security and Telecommunications Infrastructure Act (PSTI) of 2022. While many will be worried about remembering their passwords and the long-winded format that will now be required, it is vital that all employees and managers conform to the new legislation. The new laws have not come into effect because people want to make life difficult for employees; it is to keep their business and themselves safe. It is the same with Multi-Factor Authentication – an absolute must for data protection and cyber security. It may feel long-winded but it is a necessity.

When do your business and employees have to act by?

Coming into effect on April 29, 2024, this new legislation by the Government mandates that manufacturers of internet-connected devices must adhere to minimum security standards, particularly by eliminating default passwords such as “admin” or “12345.” Cyber security experts and IT support specialists have always been keen to promote the idea of password managers to help employees keep their devices more secure.

Neuways advice on Passwords and Cyber Security

Neuways wrote articles on the basis of the most hacked passwords in 2022 and then the benefits of password manager tools in 2021, showing just how overdue this legislation is. If you are a business owner, your employees need to be aware of the importance of using secure and long passwords. Hackers will eventually get bored if they realise that you are cyber secure within your business.

With an average of nine connected devices per office and household in the UK, including smartphones, smart TVs, and fitness trackers, the need for robust cyber security measures is paramount. These seemingly innocuous devices can serve as entry points for cyber criminals, posing threats to personal data and network security. This legislation is relevant to all businesses, especially those with employees who work remotely. Connecting work devices to any home network without a VPN provides cyber criminals with an avenue into your network. That’s another reason why this legislation has been brought in.

It’s not advice, it’s a requirement

Under the PSTI act, manufacturers are not just encouraged but obligated to ensure their devices prompt users to create unique passwords during setup, offer clear channels for reporting vulnerabilities, and specify the duration of security updates. For any business owner looking to implement technology and remote working into their setup, research is always advised. Your business is no longer just opening itself up to cyber criminals, but could be breaking the law.

What are the consequences if your employees use default passwords?

The consequences of non-compliance are severe, with companies facing recalls and substantial fines of up to £10 million or 4% of global revenue. This regulatory framework safeguards clients using their devices for work and bolsters confidence in the security of IoT devices. As internet-connected technologies become increasingly integral to working and company life, mitigating the risks posed by cyber threats is imperative.

Moreover, it’s crucial for both businesses and individuals to take an active role in strengthening their cyber security. Industry experts stress the importance of adopting best practices such as multifactor authentication (MFA) and password management tools to bolster account security. By prioritising strong authentication measures and cultivating a culture of cyber security awareness, we can all play a part in defending against evolving cyber threats.

Contact Neuways for advice on Password Managers

Password manager tools are very popular, but not everyone understands how they work and the power that they hold. Neuways has worked with reputable brands that promote password manager tools for years, and our team ensures that your business and its employees keep their devices safe.