If you are an IoT service provider, you probably have heard about the importance of maintaining data security and privacy in your enterprise. But are you aware of just how important it is? And do you know exactly what measures you need to take to ensure your business can survive in this digital era? The following infographic by Fortinet shares the top reasons.
IoT security is essential based on the experiences of IoT service providers and IT experts. Feel free to use this infographic in your business communication to raise awareness among your clients and emphasize the key role of Fortinet’s technology in ensuring safe and secure IoT networks worldwide.
Privacy and Cyber Security are increasing concerns
A big concern for IoT security is the privacy of consumers’ data. Whether or not your device or service includes any personally identifiable information, every device connected to the internet provides a potential attack point for an individual with malicious intent. Learn more about IoT services from embedded one.
Physical and Cyber Attacks are on the Rise
IoT security may not be at the forefront of many people’s minds, but that doesn’t mean it isn’t a priority. Physical and cyber attacks are on the rise, and if someone takes advantage of an IoT security flaw. They can wreak havoc on things such as cars or trains. Perhaps this will help put things into perspective. In 2017, the Mirai botnet was responsible for taking down some popular websites with a DDoS attack by flooding them with traffic from compromised IoT devices.
Technology & Government Regulation Will Continue to Grow
As IoT adoption increases, the need for better security will grow. Tech companies will be pressed to improve their products, update systems, and make sure that consumers are safe. The more tech products and services we depend on, the greater the risk of major disruption when they fail.
These new technologies require interconnection with other IT systems (for example, cars connected to power grids). Grows the need for cross-product security updates and unified security across all devices. Any unforeseen vulnerabilities from software updates or failed firmware updates could leave you in an emergency that jeopardizes the safety of others around you.
New Technology (IoT, AI, 5G, etc.) Continues to be Deployed
The latest new technologies will be deployed at a much more rapid pace than ever before. There are many reasons for this – from advances in Artificial Intelligence to the emergence of 5G wireless networks. These all put pressure on traditional security infrastructures and open doors to hackers and data thieves. Securing these devices and networks has never been more critical.
Many Security Breaches Are Being Discovered Every Day
Considering the potential security breaches, experts believe that companies and individuals should be proactive in securing their IoT devices. This involves: -Installing the latest software updates-Updating your device firmware -Changing default login credentials (passwords) -Turning off unnecessary services on the device. While these measures won’t be foolproof, they can significantly reduce your risk of being impacted by a cyber attack.
There Is a Financial Cost of Breaches
In one of our recent research studies. We found that more than one in three cyber breaches result from an Internet of Things (IoT) attack. To add to this troubling statistic, IoT attacks are often two times more costly to companies with time and money. Why? Because unlike computers and networks that can be easily updated. Connected devices are designed for only a short duration, typically between 1-3 years.
That means connected devices become permanently unpatched and forgotten after that timeframe ends. We’ve seen this same issue with ATMs being taken offline due to Windows XP being unpatched by Microsoft because the banks’ contracts expired. But the bank had no intention of updating its software.
Companies Have Been Implementing Solutions
People are nervous about how insecure internet-connected devices can be. Hackers can use the vulnerabilities to control, hijack, or crash things remotely. One thing a company can do to secure these devices is to update their software and ensure it’s patched against potential cyberattacks.
Another technique that some companies use for security is to store sensitive data off of the device itself and limit the features that non-trusted parties have access to. Finally, companies can keep customer data safe by not sharing this information with third parties unless they have the customer’s explicit consent.
New Standards Will Soon Be In Place for the IoT Industry
Recently, the Commerce Department’s National Institute of Standards and Technology (NIST) proposed new standards to help prevent cyberattacks against IoT devices. These standards will require cybersecurity protection at the design, implementation, and ongoing maintenance phases. Manufacturers that comply with these new standards would receive an authorization label to help assure consumers that their products are safe.
Companies are Already Feeling the Impact of Recent Attacks
There are many benefits to the Internet of Things (IoT), including connected homes, self-driving cars, and the ability to make or take doctor’s appointments. But some IoT devices such as baby monitors and webcams have been exploited by attackers. The recent Mirai botnet attack may begin a trend in IoT cyberattacks. These attacks could be more dangerous than traditional security breaches due to spreading quickly. For example, while a typical data breach would result in compromised account passwords that could then be used to gain access to other accounts, an IoT attack might include malware that was spread via Bluetooth, which could then go on to infect other nearby devices with further malicious code.
We Need to Make Sure We Don’t Experience Future Meltdowns/Crises
IoT devices are getting more powerful, and their market keeps growing. However, these devices can have weak security features that leave them vulnerable to hacks or outside tampering. Hackers have already exploited some of these vulnerabilities to steal data or plant ransomware on victims’ computers.
This hacking attack has major consequences for the victim and the company whose products were hacked into and hijacked by hackers. Last year a botnet – was made up of internet-connected cameras and other Internet-of-Things (IoT) devices. Paralyzed Twitter with a deluge of Turkish posts- is just one example of how dangerous this will get as we connect even more Internet-enabled devices to the internet.
Why is IoT security important for IoT deployment?
Securing your IoT deployments is one of the first steps to guaranteeing cybercriminals won’t use them. One successful attack could result in a compromised device being enlisted into a botnet that spams or conducts other nefarious acts.
Implementing these best practices will help mitigate the risk of infection:
- Do not allow unknown devices to access your network or enter restricted areas.
- Check the authenticity of new software and firmware updates before installing them on the network or connected device, and don’t disable automatic updates, as this may leave the system vulnerable.
- Change default passwords for administrative accounts. Make sure to use strong passwords (a combination of letters, numbers, and symbols) with at least 16 characters in length.
How does IoT improve security?
The term Internet of Things (IoT) refers to the connection of various devices accessible through an internet network. This connection enables several features and functions, such as tracking when a package has been delivered. Turning on lights in one’s home remotely or unlocking car doors without having to hold any keys. Here you will get more information about top Iot App development trends for 2022.
The technology also raises privacy concerns and new security risks. For example, devices like security cameras have tracking chips for facial recognition. Criminals cannot avoid capture by wearing masks or altering their appearance. Further, SmartTVs will use your location data and search terms from your browser to provide customized advertisements where you may see products available at nearby stores.
IoT security is one of these devices’ most important but often overlooked aspects. Researchers have shown that lax IOT security leaves your home and business wide open to attacks by hackers. Malicious software like Mirai can infect these gadgets and turn them into a network of zombie machines to shut down websites with targeted Denial-of-Service (DoS) attacks. Protecting IOT devices becomes critical to our daily lives as the world becomes more connected.