Although still in its early stages of development, IoT has already stormed over various industries and enterprises alike. We expect to see 75 billion internet-connected things by 2025. These “things’’ are not just everyday, general-purpose devices, such as PCs and smartphones, but dedicated-function objects, such as jet engines, connected cars, vending machines, and a myriad of other examples.
The possibilities are endless with what can be accomplished, and enterprises are expected to find new ways to incorporate IoT devices over time. Companies can undoubtedly benefit from IoT, but what about security risks?
IoT devices may provide easy targets for cybercriminals and skilled hackers alike. The strength of a network is defined by its weakest link, more often than not, this weak link lies within an IoT device. Understanding the impacts of IoT and the cybersecurity risks it carries should be a top priority for every business. While being hacked through a security breach in a thermostat may sound humorous, but it’s not a laughing matter when client financial documentation and confidential information leaks through this task.
The Security Challenges of the IoT
IoT closely converges with the smart home concept. An over that you can heat by pressing a button on your smartphone on your way home, a fridge that notifies you that you’re out of milk, and baby cameras, among other things. All of this stuff can make our lives much more comfortable; there’s no denying it. However, if any of these devices are not adequately secured, then things can go horribly wrong.
Another threat is DDOS attacks. The most common DDOS attack scenario is to attack as many computers as possible with malware that turns them into a botnet. However, computers are relatively tough to hack, while on the other hand, IoT devices aren’t. Although these devices are equipped with a lot of computing power, that’s not nearly enough to the capacity required to sustain a high-quality protection system. They do have enough capacity, however, to carry out a DDOS attack.
That leads us to the third most challenging task in safeguarding IoT devices – gaining access. As of now, most IoT devices are sold and shipped with weak security implementations. Their IP’s are openly exposed, and there’s even a search engine specifically designed to track IoT devices. Most users don’t even bother reading the manual, and manufacturers enough effort to inform their customers to change login/password combination. This means that a simple brute force attack can gain access to the majority of IoT devices.
First Lines of Defense
When it comes to safeguarding the IoT network, most cybersecurity agencies recommend a ‘’defense-in-depth’’ approach. To produce such security measure, an enterprise first needs to understand how a specific IoT device works and how it connects to the network. From there, essential security systems and firewalls must be written for each device. Consumers using their IoT devices should receive timely amends on how to repair potential flaws on their side. And lastly, employees must obtain the appropriate training in how to use IoT devices and what sort of security measures must be taken to protect the corporate network.
Limiting the amount of data can reduce the chance of cybercriminals gaining access to the information. While the cloud platforms helped commercialize IoT devices, they have also put the devices to higher risk due to continual data flow between devices and cloud. For those reasons, it’s vital not to store all devices into a single category and create adequate security measures.
The IoT can undeniably improve your company’s productivity, cut expenses and streamline the processes for nearly every department. However, the risks of getting hacked outweigh the benefits by far. Proper security measures need to be taken to secure these newly-formed Internet access points. IoT may only take a small percentage of data usage within a network, but every point of entry needs unique cybersecurity in place. You must consider all the potential cybersecurity risks when implementing new IoT hardware as well as its impact on the company’s bottom line.
AUTHOR BIO
Ana Bera – 5’3 ray of sunshine and chocolate addict. As the Co-Founder of SafeAtLast, she uses every opportunity to learn from others and share the knowledge by generating fun and informative content. She is a Toronto born world traveler, hungry for knowledge and ready to make a difference in the IoT and marketing world.