Device Safety in the Internet of Things
As more businesses join the IoT boom, they are coming face to face with several daunting security challenges. Recent research revealed that there were 8.4 billion connected things in use worldwide in 2017, up 31% from 2016, with expectations of that number reaching 20.4 billion by 2020. Can IoT continue to sustain this staggering pace of growth? Driven by the promise of increased insight, enhanced customer satisfaction, and greater efficiency, one key concern in successful adoption is the lack of sufficiently strong security mechanisms in place throughout
With insufficient security, the ease of access becomes an incentive for cybercriminals to figure out new and more insidious ways to hack into even the most benign devices, especially connected devices in industrial IoT. Most organizations consider IoT security to be a top priority in their IoT initiatives, as the nature of IoT deployments makes devices particularly difficult to secure against cyber threats.
Having established that the Internet of Things is not going away- why are devices still vulnerable, exploited by cybercriminals and turned into malevolent breaching hordes? More connected devices mean increased vulnerability, something researchers have been warning us about since 2008, when the high-profile Hydra malware first targeted routers. Whether it is BlueBorne, Mirai Botnet or the recent targeting of Linux devices, misconfigured network devices have led to some of the worst attacks in most cases. Although traditional cyber security has grabbed the nation’s curiosity, IoT security has been largely under the radar. According to a survey by Altman Vilandrie & Company, 48% of firms surveyed have experienced an IoT security breach at least once. The report also draws light on investments in security; while 68 percent of businesses think about IoT security as a distinct category, just 43 percent have an impartial budget for it. The lesson to be learned here? DDoS attacks aren’t the only threat to worry about when it comes to safeguarding connected IoT devices. With the cost of breaches reaching as high as $20 million, a watchful eye on networks, updatable security policies to defend processors, and embedded systems can go a long way!
In his article, Best Practices for IoT Security, Dean Hamilton, GM of Accelerite’s IoT business, stresses on the need for organizations to have strong IoT security policies and outlines methods for organizations to lift their security programs to a whole new level. Read the complete article here.
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