Technologists, scholars, practitioners, agree that IoT represents a significant risk to security and privacy. Yet are company/consumer ready to give up convenience and customer experience to protect themselves?
Internet of Things has spread rapidly thought the world. With the constant demand from consumers to have personalized experiences, companies have opted for IoT solutions. Andrew Robinson told Convenience Store News, "The IoT-empowered retailer will have additional time to reinvest in the business and make better decisions, leading to incremental revenues and growth." The value of IoT comes merely from data! Technologies such as real-time stream analysis and machine learning merged with physical "things" embedded tiny computer devices, creating a complete next-level experience reducing manual work and increasing overall business efficiency and profitability.
What is the downside?
IoT devices are not seen as a possible threat to enterprise security, nor security contingencies are implemented. 98 percent of all IoT device traffic is unencrypted. Kaspersky Labs detected 105 million attacks on IoT devices (stemming from 276,000 unique IP addresses) in the first half of 2019. Complex cyber attacks are growing in frequency and scope, making IoT devices a legion of botnets used for large-scale DDoS attacks, threatening the stability and performance of private networks.
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What to do?
There is no magic solution; however, companies have to start paying closer attention to IoT's inherent risks making better security decisions. OWASP has developed an Internet of Things Project addressing the most common vulnerabilities to help device manufacturers, enterprises, and consumers understand the security risks associated with IoT integration. Experts recommend using data feeds to track and block network connections from potentially malicious or compromised network addresses.
There is no doubt that IoT has come and would never leave, but as it makes our lives easier, it comes with high-security risks. Adding more internet-connected devices is like adding more doors to your house — doors that you might forget to lock," said Wilbur's Clopton.
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