The Internet-of-Things (IoT) allows enterprises to get profits from data generated through IoT, but also causes data protection questions and a variety of cybersecurity threats. Since the world is ready to integrate IoT applications in our daily lives, it pays to be aware of the Cybersecurity challenges this technology poses.
Cybersecurity Ventures predicts cybercrime will cost the world in excess of $6 trillion annually by 2021, up from $3 trillion in 2015. – Herjavec Group’s 2019 Annual Cybercrimes Report
Today, major cyber risks are based on cloud, intelligent equipment, artificial intelligence, and IoT. These technologies are creating risk from the machines that interact with the cyber-physical world.
Let’s take a look at the most significant cybersecurity threats the IoT poses today and how Internet of things solutions provider can help enterprises stay ahead of these challenges.
Types of Cybersecurity Threats in IoT World
Insecure Web Interface
Many IoT devices are designed to perform specific tasks, such as measuring temperature or verifying a movement. Mostly they run from the internet through web interface, that can do much more from the background without obstructing a primary purpose but at the same time this could allow an attacker to get unauthorized access to the connected devices. Such environment may consider as a rich opportunity for an attacker and threat for owners and the organization they work for and soon it will bring large-scale IoT security breaches.
Lack of barriers in Authentication/Authorization
Lacking authentication with ineffective/poor mechanisms to authorize the IoT user interface can allow hackers to gain higher levels of access. Once the hackers had their hands on the credentials, the user is unprotected they can’t do much to prevent their assets from being stolen from his/her account. For example, during May 2015, the Starbucks has faced a data breach issue, where user credentials were stolen due to their insufficient authentication system.
Vulnerable Network Services
In most enterprises they use firewalls and intrusion detection systems for their network securities. They are all the barriers that protect unknowns from entering and snooping around. However, in many cases insecure networks directly relate to vulnerabilities among the network services that are being used to access the IoT devices. That might allow hackers to gain unauthorized access to the device or associated data. Thus, it is important to implement the same network security measures and solutions.
Shortage of Transport Encryption
Encryption is a classy coding language with different levels of difficulty. It is suggested to use the most complex encryption level accessible. IoT devices usually communicate with each other, and this no one want to unnecessarily expose. In case of transport encryption lack, the data gets exchanged with the IoT devices in an unencrypted format. This could easily help a hacker to snuffling the data.
For instance, a manufacturer designs a new product using 3D printer and has IoT devices connected for the same purpose. The devices communicate with the designer’s computer for receiving information through a network. If the information is sent and received from device to device in clear text that anyone can easily understand and manipulate.
Serious Privacy Concerns
Data is undoubtedly one of the most treasured and sensitive assets enterprises can store. Identity theft is on the top in this digital world and as more devices are connected to the internet, the more difficult it becomes to store data. Due to the lack of appropriate protection for the collection of personal data, privacy concerns form serious worries among enterprises for protecting such data. Privacy concerns are easy to find by simply monitoring the data that is being collected through IoT devices whenever they get activated or deactivated.
Risky Cloud Interface
The Cloud is making lives easy by storing all the organizational data making it available from anywhere, anytime. Not only this, but enterprises do not even need to perform data backups or to remember anything. However, the Cloud also includes a completely new layer of risks. New risk means new liabilities, that need to be identified and resolved. Cloud is great for all the organizations but when used with IoT, enterprises have a responsibility to make sure that all used services are secure.
Unreliable Mobile Interface
Mobile is one of the most popular connected “things” today. Since it’s always connected and works like a handy computer containing most of our sensitive data, these devices are popular among hackers. Now as IoT includes a variety of devices – connected cars, wearables, thermostats etc. Mobile operating systems usually control these devices. To be more user friendly, mobile interfaces have all the important accesses, automatic notifications, remote system updates and other services easily accessible. This poses a significant risk in case someone with vested interests ends up getting control of all the devices.
Lower Physical Security
The great thing about Internet of Things is that people use these technologies on a daily basis. That means, many of these connected devices are accessible and can change physical ownership and be used by several people over time. Physical access to devices is the easiest way to get into and steal sensitive information. This is a serious question on the physical security of IoT devices.
84% of adopters say that security is something to be tackled, not a reason to reject innovation. – Vodafone
IoT devices have great potential to make our lives easier. However, not paying enough attention to security concerns could lead to a lot more trouble than the return on investment they promise. Threats are everywhere and that’s why enterprises need to find out a way to overcome these challenges.
Here are some of the tried and tested ways enterprises can address security challenges posed by IoT:
On top of these ways, enterprises may reach out to skilled IoT cybersecurity professionals such as Cygnet Infotech. At Cygnet, our experienced experts specialize in creating fully secure, functional, and easy to use, innovative IoT solutions and prevent cyberattacks. Get in touch with IoT and emerging technology experts at Cygnet Infotech at +1-609-245-0971 or email@example.com.