In an era when hackers are training their resources on IoT networks, organizations need to upgrade their cybersecurity strategies to safeguard their assets.
FREMONT, CA: The Internet of Things (IoT) has emerged as a revolutionary technology for enterprises in augmenting their communication processes and operations. However, many organizations fail to safeguard their IoT networks from cybersecurity threats. The vulnerability of the IoT devices can be attributed to the lack of integrated endpoint security platforms.
The Basics
Even though some organizations ensure the incorporation of capable endpoint firmware in their IoT devices, the constant security patch updates can prove inconvenient to the enterprises, especially in terms of time and resource. Also, the security firmware embedded into the devices rarely withstands the sophisticated cyber attacks.
Along with understanding the vulnerabilities of IoT, organizations should also form strategies to deal with cyberattacks. According to a survey by Trend Micro, only 50 percent of the IoT adopters identify the potential threats of the IoT network, and around 43 percent neglect IoT security by considering it as an afterthought. 52 percent of the organizations fear the loss of customer trust as the top consequence of IoT breach, whereas 49 percent fear monetary losses.
The Consequences
However, security organizations reveal that the consequences of IoT breach extend far beyond the expected outcomes. IoT devices with a lack of robust security not only conceal the presence of cryptocurrency mining malware but also offer footholds for cyberattackers to launch lateral movement attacks. In some cases, unsecured IoT devices can also enable hackers to take over the entire network.
Implementing Security
It is imperative for organizations to implement robust IoT security. The IT teams should identify the devices that regularly access the enterprise network and perform regular digital audits utilizing effective IoT security solutions. Organizations can also deploy the IoT cloud, especially if they have a hybrid or cloud-based IT infrastructure. The integration of the IoT network with the cloud will enable seamless incorporation of new devices into the system. Also, the hybrid endpoint security employed by the cloud can identify and safeguard the IoT devices.
See Also: Top 25 Insurtech Companies
Unencrypted IoT communication and traffic enables hackers to intercept, and even manipulate with the data. Hence, it is essential to encrypt communications based on priority. The IoT devices have to be turned off when not in use. Also, the organizations need to ensure that the endpoint security platforms can incorporate the latest endpoint security solutions.
See Also: Cyber Security Review Magazine
