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What are Some of the Biggest Security Vulnerabilities that Come with IoT?

Madhu Gaur | Senior Vice President

IoT devices
According to Business Insider’s experts, the Internet of Things (IoT) devices market is likely to grow to 30.9 billion by 2025 from 22 billion in 2022. As IoT devices increase in numbers, so do the potential cybersecurity attacks and threats, making each endpoint, sensor, network layer, connection, and UI of IoT applications vulnerable to data thefts, DDoS and network attacks, spoofing, and phishing attacks.
With thousands of devices connected to an enterprise network, organizations today are often exposed to security threats that can lead to the loss of valuable data and assets that may be beyond control.
If you are dealing with IoT devices, you must be aware of the following vulnerabilities so that your security measures are right on point before any critical damage hits your organization. Here are a few critical vulnerabilities of IoT devices that may put business security at stake:

Top 5 Vulnerabilities that Make IoT Devices Insecure:

1. Uncertain Ecosystem Interfaces

Attackers can access a device through insecure ecosystem interfaces like application programming interfaces (APIs) and mobile and online applications. Businesses must establish authentication and authorization procedures that verify users and safeguard their mobile and cloud interfaces. With useful identity technologies, the server can distinguish between legitimate devices and malicious users. Accordingly, if the network services are adapted insecurely, they can provide an open approach to malware, DDoS, MITM attacks, etc.

2. Outdated Components

Legacy systems, coding flaws, and software vulnerabilities can all damage the IoT ecosystem. Using shoddy or out-of-date parts, like open-source code or third-party software, can create security holes that increase an organization’s attack surface.

3. Absence of Proper Privacy Protection

IoT devices frequently gather personal data, which businesses must securely store and manage to adhere to various data protection rules. With insufficient security measures, enterprises risk being penalized, losing their reputation, and losing customers if they don’t protect sensitive data.

4. Unsecure Data Storage and Transfer

IoT devices must secure and restrict access to the data they receive or transfer over networks. This is essential for preserving the dependability and integrity of IoT applications and business decision-making processes.

5. Unsuitable Device Management

Attackers may gain access to business networks through unauthorized or dormant devices, allowing them to steal or intercept sensitive data. This makes finding and identifying IoT devices essential for maintaining and safeguarding equipment.
Even when a device is no longer operating, it might still be vulnerable to cyber-attacks if its lifecycle management is poor. Therefore, businesses must be aware of the devices or assets linked to their networks to manage them appropriately.

Conclusion:

Finances Online says 98% of IoT device communications need to be secured. With these alarming stats in mind, it’s simple to infer that the massive assaults and IoT security issues mentioned above are just the beginning. Therefore, it’s critical to maintain the security of our IoT network and implement necessary security measures, ideally with expert supervision.
Therefore, if you want to start filling these gaps and ensure top-notch security of your business assets and customer data from hackers, you can reach out to experts from Quinnox for IoT consulting, integration, and management.
For more information, get in touch today!

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