IoT Security and Risks

The Internet of Things (IoT) is the network of things (physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, actuators) connected through internet which enables these things to exchange data. This creates opportunities for more direct integration of the physical world into computer-based systems, resulting in efficiency improvements, economic benefits, and reduced human exertions.

In simple terms we can say IoT is a system of things integrated with sensors, softwares, electronics which are connected to each other & can exchange data or Information with other connected devices.

The main pillars of IoT projects or IoT solutions are

Sensors/DevicesConnectivityData Processing

Security and Privacy:

Security is an essential pillar of the Internet and one that to be equally essential and the most significant challenge for the IoT. As Increase the number of connected devices increases the opportunity to exploit security vulnerabilities, as poorly designed IoT devices can expose user data to theft by leaving data streams inadequately protected.A latest research claims that by 2020, 25% of cyber attacks will target IoT devices.

Major security issues in iot have been raised that the IoT is being developed rapidly without appropriate consideration of the profound security challenges involved.Most of the technical security concerns are similar to those of conventional servers, workstations and smartphones. Security is the biggest concern in adopting Internet of things technology. As the Internet of things spreads widely, cyber attacks are likely to become an increasingly physical threat.The vulnerabilities include weak authentication (IoT devices are being used with default credentials), unencrypted messages sent between devices, lack of verification or encryption of software updates.One of the key drivers of the IoT is data. The success of the idea of connecting devices to make them more efficient is dependent upon access to and storage & processing of data. Companies working on the IoT collect data from multiple sources and store it for further processing.Lack of proper Reguation and standards will open up the possibility for for privacy and security dangers. IoT regulation depends on the country. Several standards for the IoT industry are actually being established relating to automobiles because most concerns arising from use of connected cars apply to healthcare devices as well. Lack of standards and documented best practices have a greater impact than just limiting the potential of IoT devices.These are because of still early days for IoT in government and unclear business models, despite strong value proposition.Without the right standards to guide and regulate manufacturers the developers may design products that operate in disruptive ways and If they are configured or designed poorly, these devices may have huge consequences on resources they connect.

Existing and upcoming privacy laws, including the European General Data Protection Regulation (GDPR), will dramatically impact an organization’s strategy, purpose and methods for processing personal data in IoT.

IoT creates unique challenges to privacy, many that go beyond the data privacy issues, consumer devices such as tracking devices for phones and cars as well as smart televisions are capable of tracking your day today activities.The Internet of things’ potential for major privacy invasion is a concern.Consumers take a more active interest in protecting their privacy and demand IoT devices to be screened for potential security vulnerabilities and privacy violations before purchasing them.Consumers are increasingly worried about privacy risks and security concerns that outweigh the value propositions of IoT devices and they opt to postpone their planned purchases or service subscriptions of IoT devices or soutions. As Security and Privacy are major issues in IoT, Enterprises when developing their IoT systems really need to work on IoT security issues and solutions.

Reference: http://www.thetips4you.com/top-iot-security-threats-challenges-of-the-internet-of-things/

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