IoT security issues in 2021: A business perspective

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IoT security issues

The global market for the Internet of Things continues to grow with rapid technological innovations. There is an increasing number of IoT devices entering the world, increasing the use of state-of-the-art IoT apps and solutions. This technology has made people’s lives a lot easier. These Internet of Things applications have the potential to add value to businesses, governments, and consumers.

Today, IoT is an inseparable component of business processes and corporate infrastructure. They can derive tremendous benefits from the IoT. The IoT can increase the efficiency and productivity of businesses, but it also comes with new risks. As IoT devices are connected to the Internet, They can be hacked like any other device connected to the Internet.

Unfortunately, many companies are still delaying the adoption of an IoT cybersecurity strategy. And fail to recognize the risks associated with IoT security until it is too late. Developing an in-depth understanding of IoT cyber security issues and implementing a strategy to mitigate the associated risks will help protect your business and build confidence in digital transformation processes.

In this article, we are going to cover Internet of Things security challenges.

So let’s lead off!

1. Poor Update Management:

The IoT products are developed with a view to the simplicity of use and connectivity.

They can be secured upon purchase. But become susceptible when hackers find new security problems or bugs. If not corrected through regular upgrades, IoT devices are exposed over time. Hence, Updates are essential to ensure the safety of IoT devices. They must be updated whenever new vulnerabilities are identified. Still, some IoT devices are being used without the necessary updates due to the absence of auto-update.

Another risk is that when an update occurs, a device will send its backup to the cloud and undergo a short downtime. If the connection is not encrypted and the upgrade files are not protected, a hacker may steal sensitive information.

2. Insecure Interfaces:

All IoT devices handle and transmit data. These IoT devices require applications, services, and communication protocols. Many IoT vulnerabilities arise from insecure interfaces. These include the web, application API, cloud, and mobile interfaces and can compromise the device and its data. Inadequate authentication and low encryption or no encryption are some of the most IoT security issues.

You may use device authentication as It is utilized to prevent unauthorized access to a connected device and data it generates. Only to authorized people who can prove they know the secret. Use digital certificates as it allows a digital entity (IoT device, computer, etc.) to transfer data securely to authorized parties. Implement rigorous standards, best practices, and guidance available from authentic sources.

3. Poor IoT Device Management

More than 5 million IoT, IoMT (Internet of Medical Things), and unmanaged connected devices in the health, retail and manufacturing, and life sciences sectors were assessed in a study done in July 2020. It shows an astonishing number of vulnerabilities and risks through an incredibly diverse array of connected devices.

Computed Tomography machines and Magnetic Resonance Imaging devices are primarily responsible for security concerns in IoT app development.

Old legacy systems and linked equipment with inadequate security characteristics. Such as patient monitors, ventilators, infusion pumps, lighting, and thermostats. Are sometimes particularly vulnerable to attacks.

Below are the results of recent ransomware attacks:

  • Business disruption
  • Jeopardized customer data and security
  • Loss of information
  • Financial losses
  • Reputational damage

However, such vulnerabilities and IoT security threats can be dramatically mitigated through the implementation of IoT device management platforms. They offer premium lifecycle management capabilities for deploying, monitoring, maintaining, managing, and updating IoT devices.

Furthermore, these platforms meet customers’ needs for end-to-end solutions and the significant security challenges they face in device management.

These types of platforms improve the provisioning of assets, update firmware, reduce security vulnerabilities, alert and report on specific actions associated with IoT mobile app development. Combining such intelligence information can prove to be very effective in identifying harmful threats and finding solutions.

4. Lack of IoT Skills:

Today, many businesses face a critical lack of IoT skills that prevents them from taking full advantage of new opportunities. This is one of the biggest IoT security issues to build a successful product. Education and development programs must be established. As the more skilled and prepared your team members are about IoT, the stronger your IoT will be.

To deal with security challenges in IoT, you may call experts/professionals as they perfectly know the best practices for efficient risk assessment and mitigation. In addition, security should be considered at the very beginning of the design process.

5. Inadequate Data Security:

Insecure communication and data storage is one of the biggest security risks in IoT devices for proper data security. The fact that tampered devices can be exploited to access personal data. Is a serious concern for IoT privacy and security. The importance of secure data storage and network isolation is at an all-time high.

To tackle this data protection, cryptography is an effective method. By encrypting your sensitive data, you can prevent unauthorized access or data thefts. Data encryption and decryption are commonly used to safeguard confidentiality. And are increasingly used to safeguard data privacy of data.

Cryptography is an efficient solution against eavesdropping attacks aka sniffing attacks. Which are used in industrial espionage. In this, the hijacker can gain passive access to data from industrial control systems. That are received or sent over the network.

In addition, Cryptography also serves as a standard defense.
against active eavesdropping aka Man-in-The-Middle attack. In active eavesdropping attacks, the hijacker intercepts all relevant messages and injects new ones between two devices.

Wrapped Up:

The global business market is replete with IoT devices. At the same time, the vulnerability of these IoT devices is very critical. For developers and businesses which are the users of such IoT devices need assurance to avoid poor management, timely updates, and improved data security to be maintained. By keeping the above points checked IoT devices can ease and improve businesses efficiency.

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