A bottom line in DMM safety it should meet the safety ratings of its highest voltage range. If a cheapo has 1000Vdc or AC range, it must be able to pass the CAT rating for that range.
It doesn't even discuss the ratings of the probes, which is not tested. Even if you have CAT rated probes but they have been abused or worn, they can still fail.
AFAIK, no agency in the US enforces CAT ratings except OSHA. The main target of untested meters is consumers, at least in the US, and the only way to seek redress for injury is a personal injury suit. Likewise, in work related injuries, an employer who doesn't specify and make reasonable enforcement of DMM safety, is liable to both OSHA [ criminal neglect] and a personal suit by the employee [civil complaint].
So far the injuries are rare, but its so easily avoided why gamble with your body parts or life? Safety should be taught as a way of life, not as an afterthought.
FWIW, a single trip to the ER in the USA, without treatment is $500 [just to evaluate and see what you need]. Reasons for well being aside, its not cost effective if you misuse a meter without safety features.