As much as the adoption of smart devices using Internet of Things (or IoT) technologies is rising all over the world, so does the number of crimes associated with cybersecurity. There are numerous schemes aimed at extorting money from device users based on malefactors gaining control through IoT.
A report based upon research from National Cyber Security Center in the United Kingdom states that Internet of Things hacking got a lot more active recently and that new ways for hackers to access users’ devices are emerging all the time.
Gartner’s study says that the global tendency for IoT cyber threats to become more severe will cost enterprises dearly, creating a necessity for an increase in security costs budgets of up to 20%.
In this article, we’re going to take a look at the ways the IoT is changing the landscape of cyber internet security, as well as the main risks and challenges for industry participants. Let’s start with the main point.
IoT impact on cyber security: 5 main aspects
The IoT technologies were under threat in cyber security as soon as they appeared. Their development and adaptation for everyday and industrial use are now constantly creating new doorways for criminals to access them. Let’s take a look at the main aspect of the cybersecurity landscape in IoT.
Connectivity on the rise
The main and most obvious aspect is that the number of devices that can be hacked and get unauthorized access to is rising constantly. Moreover, their variety is growing too with IoT devices getting used more and more in our everyday lives and production cycles. This increase leads to a simultaneous rise in possibilities for malefactors, and, as a consequence — to more security solutions being developed to address those threats.
More directions for attacks
As a logical follow-up to the previous aspect, an increase in the number of hackable devices leads to an increase in the number of ways these devices can be exploited by criminals to extort money or otherwise harm their owners. It should be noted though, that this increase, drastic as it may seem, has not made a huge impact on the adoption rates of IoT technology. It seems that enterprises value the benefits of IoT much more than they are concerned with its drawbacks.
Information as a commodity
Information has always been one of the most important resources for any business, and it became even more important when the world has gone digital. There is a ton of information being circulated through digital devices each second, and some of it is really valuable. Getting access to this information may give a criminal an immense amount of leverage and control over an enterprise.
This is why data protection has become probably the most important direction in IoT security measures development and is likely to keep growing in the future.
Built-in safety measures
As of now, the majority of IoT devices seriously lack in-built security. The most common approach nowadays is to incorporate a third-party IoT security solution to protect a device or a whole network from unauthorized access.
However, with IoT devices becoming more and more incorporated into our lives, users begin to demand more in-built safety measures with their devices, as network solutions fail to provide data security in IoT more and more often.
Automation
Industry automation actually precedes IoT, but as soon as IoT emerged these two technology trends have become firmly intertwined.
The thing with automated processes is that they by definition distanced from contact with human beings, and therefore require similarly autonomous security measures. Therefore the development of safety solutions for automated industrial processes has become a top priority for IoT software market participants.
Internet of Things and cybersecurity risks and challenges
As it always happens in new and booming industries, the Internet of Things has created multiple risks for the participants of any industry associated with it, such as insecurities in internet and network services, cloud interface privacy threats, mobile interface issues, and lack of physical security.
These risks have induced several main challenges for IoT industry participants:
Cloud aspect of IoT
The IoT industry cannot break away from cloud computing because there are currently no other ways to process immense amounts of data in a fast and efficient manner. However, cloud technologies sometimes act as a main weak link in the IoT chain, providing opportunities for malefactors.
Infrastructure
Sometimes criminals take a more direct and primitive approach, accessing enterprises’ conventional systems such as power networks and transport, also connected to IoT systems.
Legislation
Different states, different laws. Sometimes, data and records management policies can be a real pain for anyone trying to implement an IoT solution in an area dealing with sensitive information.
Protection of personal and business data
If you switch to smart devices, you provide a potential way for your data to be transferred somewhere. It may be harmless, or it may contain valuable trade secrets or sensitive personal information. The IoT industry needs to evolve to better protect such information.
Some final thoughts on the matter
The sheer tempo of development in the IoT market promises new challenges and risks in the very near future. The industry of cybersecurity needs to evolve at the same rate in order to answer the growing number of requests for safety and protection. Hopefully, we can deal with the current challenges before we’re overwhelmed by the new wave.
