The Internet of Things is a thing and it’s impacting cybersecurity

The following blog post The Internet of Things is a thing and it’s impacting cybersecurity was originally published to Nimbus IT Support

The rise of the Internet of Things - or IoT as it's often known - has delivered greater connectivity than ever before. Digital business is dependent as never before on IoT and cloud computing to deliver value. But, with over six billion interconnected objects predicted to be in use by the end of 2016, there are increasing worried about the security implications of this new technology. [embed]https://www.youtube.com/watch?v=QSIPNhOiMoE[/embed] (video from IBM Think Academy) With cyber crime on the rise, the Internet of Things Top 10 project has already identified the security challenges facing the IoT and its connected devices. Smart appliances, cars and wearable tech are all vulnerable to cyber criminals ready and willing to exploit those vulnerabilities. Many devices have unsecured interfaces with the web and cloud-based resources. Some Apps are poorly secured and there is a lack of encryption for data in transit. There are issues around the physical security of devices and users and passwords and authentication issues, leading to the disabling of the Nissan Leaf app after security researcher Troy Hunt was able to take control of a Leaf's steering wheel. One of the major problems with IoT is manufacturers and service providers entering the sector and failing to implement common security protocols to secure data and devices. When hackers caused a power outage in the Ukraine, the first of its kind in the world, they used malware to corrupt the grid. Analysts fear that, unless cyber security adapts to meet the new challenges of IoT devices, hackers will develop new opportunities to gain entry to corporate databases and networks. So, what can your business do in the face of the new and increased risks presented by our growing interconnectivity? Cyber insurance is expected to be one of the IoT growth industries, with fewer than 5% of manufacturers having any kind of cover. But, with premiums expected to double in the next four years as attacks increase, investment in training your workforce to take responsibility for IoT security makes good financial sense. But in the scramble for security, that smart tea maker can still make a great cuppa.