Is the IOT Opening You Up to New Risks?

The Internet of Things (IoT) promises to revolutionise the relationships businesses have with their data. While it is still in its nascent stages, companies from every industry and sector are exploring different IoT use cases, looking for greater efficiencies and productivity.

One of the most widely discussed risks in IoT is that of security and privacy. “There are critical elements in any ecosystem that must be assessed and evaluated for protection against cyber attacks, ransomware, and data breaches, and this is even more important when it comes to IoT. By their very nature, IoT devices pose new risks for organisations, as witnessed by the recent incidents at major international manufacturers. A cryptocurrency miner was found on several IoT devices, including automatic guided vehicles, with multiple incidents recorded across over 50 sites in the Middle East, North America and Latin America,” says Jayson O’Reilly, General Managerof Cybersecurity at Atvance Intellect.

He adds that IoT is still a relatively new technology, so its vulnerabilities are still emerging. “While the security and integrity of the devices and the network have been the focus of most security initiatives until now, we are fast discovering that IoT poses another underrated risk: Its role in supply chain attacks.”

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