More Data, More Flexibility, Equals Less Security?

The race is on to capitalize on the predicted multi -trillion dollar market investment in the Internet of Things (IoT) technology. Many companies are already seeing the positive business impact of IoT devices in the form of valuable data collected used to track customer behavior and inventory in real time. Additionally, reduction in operating costs associated with efficient usage of connected devices to allow employees the flexibility to work remotely is also an asset to the enterprise. The opportunities are plentiful for IoT to have a significant impact on our global economy, but the security challenges of increased vulnerabilities associated with all things “smart” will need to be addressed.

Seemingly edgeless networks are being created by the data flow between connected devices. This is resulting in harder to manage workplace security environments. Understanding the financial implications of what it would cost in the event of a security breach is difficult; in addition to, the negative impact it could potentially cause to an organization’s reputation. Detecting and preventing security attacks, while still being able to take full advantage of IoT business potential, is top priority for CISOs everywhere. For a closer look into the transformation created by IoT adoption, read full article here.


Raising the Bar for Internet of Things Through Tougher Security Bill

The Internet of Things (IoT) is growing exponentially everyday with experts weighing in on the warning signals of its associated risks to global security. Notable statistics cited on IoT include the research firm Gartner saying that IoT devices have increased 31% from 2016 to 2017, hitting 8.4 billion connected “things” this year, and that the number will surge to 20.4 billion by 2020. Accenture estimates the Industrial Internet of Things (IIoT) will add $14.2 trillion to the global economy by 2030 making the surge from industrial companies using IoT devices have a very positive effect on economies around the world.  Steps need to be taken to ensure that manufacturers of IoT devices are equipped in producing cyber secure devices and new legislation is being proposed to address security issues.

As a start to try and fix the potential massive security problem imposed by IoT, lawmakers in the U.S. Senate introduced a bill in early August that would apply to vendors supplying the US federal government by setting baseline security standards and use of a broad range of Internet-connected devices, including computers, routers and security cameras.  The new bill, Internet of Things Cybersecurity Improvement Act of 2017, was introduced by Sens. Steve Daines (R-Mont.), Cory Gardner (R-Colo.), Mark Warner (D-Va.) and Ron Wyden (D-Ore.). As an example, the bill would require vendors of Internet-connected devices purchased by the federal government be ensured that their devices are patchable, rely on industry standard protocols, do not use hard-coded passwords, and do not contain any known security vulnerabilities. For more information on the new legislation, read full article here.

Security Hazards Rising in the Age of Internet of Things

The Internet of Things (IoT) is here to stay.  No surprise that our love for connected devices will continue to trend upward to 11.4 billion by 2018 according to Gartner.  However, with increased convenience of IoT devices, huge security risks also increase and staying vigilant about security is critical.  Security hazards become a big concern as IoT devices often times store sensitive information that can be tempting to hackers.  Also, in an effort to go to market fast with new devices, manufacturers may create smart products that are insecure and vulnerable to attacks where weak infrastructures are in place.

There is fast and furious adoption of the smart gadgets consumers have come to depend on to regulate temperature, watch over homes or businesses, monitor health and even respond to our every need.  Security may not get the attention it needs in an emerging market that is growing so rapidly.  The key is to balance security with ease of use and convenience of the device.  Being attentive and up to date with the most advanced security tools to mitigate risks against cybercriminals means adjustments may need to be made for effective protection.  Security and IoT are hot topics; read full article here.