The continued rise in the number of Internet of Things (IoT) connected devices has brought about a host of security challenges for many businesses. As manufacturers compete in a race to bring their IoT devices to market, most fail to include even the most basic security controls necessary to protect the networks these devices connect to or the data they collect or transmit. This leaves businesses of all industries extremely vulnerable to a variety of security risks and cyberthreats.

If your business has adopted IoT devices or has imminent plans to do so, there are five major security risks you need to take into consideration to successfully maintain the security of your IT operations and the sensitive assets those IoT devices connect to.

Inadequate Patch Management

Timely patching is crucial for all internet-connected devices. Most IoT devices available today lack the capability to be patched with security updates – leaving them exposed indefinitely to risks that only increase over time. Most IoT device manufacturers do not bother with modern update mechanisms; meaning, some IoT devices function on unsupported legacy operating systems, making them impossible to patch.

IoT’s pervasive utilization of rudimentary Operational Technology (OT) systems that lack the built-in chokepoint filters essential to effectively prevent or mitigate the spread of destructive malware serves as an unprotected “backdoor” for hackers to infiltrate business systems and steal sensitive data or extort money.

Lack of Proper Encryption

It is rare for IoT technology to contain even the most basic encryption systems included during manufacturing. The lack of encryption controls leaves all data transmitted in connection with IoT devices completely unprotected. While the various security concerns alone are significant, the failure to properly encrypt your customer or employee data and PII, both in transit and at rest, is a violation of most data protection regulations worldwide. Non-compliance often results in hefty financial penalties, operational disruptions and devastating reputational damage.

Absence of Regulatory Requirements

Since IoT devices are purpose-built to house sensors that have the ability to collect, store and share all direct and indirect communications or data interconnected with the devices, you must consider the high probability that your business’ sensitive or proprietary information could be accessed or exposed without your knowledge or permission.

Currently, IoT product manufacturers have no universal standards or global regulations to comply with when it comes to explicit security or data privacy controls required for production. Without universal standards or accountability via enforcement, it’s easy to understand how IoT devices generate increased risks and threats to IT security and data protection.

Now take a moment to imagine the terrifying possibility of how a lack of global requirements for IoT technology could ultimately be responsible for killing people. Without total control over the security of IoT devices, the devices become extremely vulnerable to hacking and corruption. This could potentially create very real, life-threatening situations, especially if medical IoT devices such as pacemakers, blood pressure monitors or continuous insulin regulators were to malfunction or fail, leading to death because of a security breach.

Default Password Vulnerabilities

Many IoT devices come with weak default passwords that can be easily cracked by cybercriminals. While these can be changed once connected to a network, IT technicians often ignore or neglect changing passwords, which can leave devices vulnerable.

Inability to Detect Breaches or Predict Threats

IoT ecosystems are very complex, making it highly difficult for businesses to manage IoT security with a single solution. Due to vast and diverse data types and computing powers across all IoT devices, a “one size fits all” security solution is unrealistic. Also, there is a general lack of understanding and awareness of IoT security risks at the end-user level. Businesses need to be aware of the different IoT security threats to be able to implement security policies.

Primary threats that IT must address while deploying IoT devices in their networks are:

• Denial of Service: A denial-of-service (DOS) attack is an attempt by a cybercriminal to incapacitate a network with an excessive surplus of the kind of activity than the network usually handles. Since IoT devices lack filtering chokepoints such as firewalls, malware can spread easily, allowing hackers to gain entry into the network with one IoT device.
• Passive Wiretapping: Passive wiretapping or eavesdropping involves the theft of information transmitted over the network by the IoT device.
• Structured Query Language Injection: Structured query language injection (SQLi) controls a web application’s database server, allowing hackers to tap into sensitive information such as usernames, passwords and user permissions. Hackers can then take over the entire network by tricking a web application to allow authentication without a valid password or by adding and deleting users and changing their permission levels.
• Wardriving: Wardriving involves the act of searching unsecure Wi-Fi networks by a hacker in a moving vehicle and then potentially gaining access to them. Unsecured IoT devices and default admin passwords on a network are easily discoverable for this kind of attack.
• Zero-Day Exploits : IoT devices are honeypots for zero-day exploits. Zero-day vulnerabilities are vulnerabilities that are left unmitigated and are exploited before patches are released for them. With more employees working from home and using personal Wi-Fi and interconnected devices, IoT devices can prove to be hazardous for a company’s IT environment.

How to Overcome IoT Security Challenges?

Many SMBs usually struggle with budget and skill constraints to fully and consistently implement and manage IT security. Partnering with a Managed Service provider who specializes in IT, network and data security, and has experience managing effective cybersecurity strategy, can help simplify your success.

Here are a few ways MSPs help their clients enhance their IoT security posture:

• Identifying Security Gaps in the Environment: It all starts with identifying vulnerabilities in a network by conducting risk assessments in your environment and analyzing any potential security gaps.
• Implementing Layered Security Procedures: This involves the deployment of advanced security tools and procedures that protect IoT devices from infiltration. These include tools that automate patch management, implement two-factor authentication, enable compliance with security policies and monitor backups to bolster security.
• Advanced Email Security: This entails the deployment of email security solutions that protect clients’ employee mailboxes, limiting the spread of ransomware. These solutions detect unsafe emails and attachments and deter phishing attempts.
• Security Awareness Training: MSPs also provide training to their clients on how to recognize phishing emails and avoid opening emails from untrusted sources.

Contact us to learn more about how MSPs can help mitigate operational data integrity risks associated with IoT by signing up for a consultation right here.