Makers of “internet of things” products, such as smart kettles and fridges, and software developers will face heavy fines if they do not meet tough rules aimed at averting cyber attacks, according to draft EU legislation to be unveiled next week.
Companies will have to obtain mandatory certificates that show they are meeting the basic requirements of cyber safety that minimise the risk of attacks, according to a confidential document seen by the Financial Times.
Those that fail to comply will be fined up to €15mn or 2.5 per cent of the previous year’s global turnover, whichever is higher.
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