Title page
Contents
Summary 2
The scale of the Internet of Things 11
What is Consumer IoT? 12
Problem under consideration 12
Rationale for Government intervention 14
Policy objectives 16
What are the Code's top three guidelines trying to address? 17
Consumer IoT Security labelling scheme 20
Rationale for proposed approach to regulation 25
Policy Options 27
Cost Benefit Analysis 31
Risks and uncertainties 62
Annex A: Code of Practice for Consumer IoT Security 63
Annex B: Secure by Design background 64
Annex C: Counterfactual and policy overlaps 65
Annex D: Modelling approach and key assumptions 69
Annex E: Stakeholder views from Secure by Design informal consultation 70
Annex F: Glossary of terms 73
Table 1. (Omit) 14
Table 2. Summarises the expected costs and benefits of the proposed regulations 32
Table 3. Number of cyber crime incidents 34
Table 4. Wage per hour: Annual Survey of Hours and Earnings (2017) 36
Table 5. (Omit) 39
Table 6. Estimation of labelling costs 40
Table 7. Consumer benefit scenario analysis assumptions 45
Table 8. Familiarisation costs 46
Table 9. Self-certification costs 47
Table 10. (Omit) 49
Table 11. Estimated benefits to consumers: Present Value 50
Table 12. Cost-benefit summary: Option A 50
Table 13. Familiarisation costs 51
Table 14. Self assessment costs 52
Table 15. Estimated benefits to consumers: Total Present Value 53
Table 16. Cost-benefit summary: Option B 53
Table 17. Familiarisation costs 54
Table 18. Self-certification costs 54
Table 19. Estimated benefits to consumers 56
Table 20. Provisional EANDCB and Business Net Present Value 57
Figure 1. Forecast of IoT consumer electronics and FMCG in UK 35