The Internet of Things (IoT) has revolutionized the way businesses operate. With the ability to connect devices and gather data in real-time, companies can improve their efficiency, productivity, and customer experience. However, with the benefits of IoT also comes the risk of security breaches. Hackers can exploit vulnerabilities in IoT devices, leading to data breaches, financial losses, and damage to the business’s reputation. Engage with security experts at IT Consulting Little Rock to protect your IoT devices from vulnerable cyber threats.
In addition, According to the Statista report, the number of Internet of Things (IoT) devices worldwide is forecast to almost triple from 9.7 billion in 2020 to more than 29 billion IoT devices in 2030. This report shows the growing demand of IoT devices in various industries.
Why is it Critical to Secure IoT Devices?
Securing IoT devices in business is critical as they are being used to collect and analyze large amounts of data, but this activity also attracts the attention of hackers. Improper security mechanisms can make these devices vulnerable to cybersecurity threats, and a single weak password can leave them easily compromised.
Some organizations still use outdated software, which puts their IT security at risk. In addition, connecting many IoT devices to a network increases the attack surface. Continuous attack surface monitoring minimizes the risk associated with security breaches. As a result, it provides more entry points for hackers, making it essential to implement security strategies to protect against cyber-attacks. Every enterprise, industrial organization, and healthcare organization that uses IoT devices are at risk from cyber-attacks, so it is imperative to secure them with proper security measures.
6 Ways to Secure IoT Devices in Your Business
1. Lack of Built-in Security
IoT devices significantly threaten business security due to their lack of built-in protection. For example, many IoT devices lack password integrity and firmware updates, leaving them vulnerable to attacks. Poor IoT protocols, policies, and procedures also risk organizations. Attackers can exploit firmware vulnerabilities and default usernames and passwords, leading to DDoS attacks and data exposure.
Common IoT deployment mistakes include needing more security and privacy features, unencrypted data transmission, and hard-coded credentials. To optimize device-level security, knowing what devices are in the environment and how they’re configured is essential. Businesses can protect themselves from these risks by implementing strong protocols, policies, and procedures around IoT device security, including regular firmware updates and strong passwords.
2. Use Secure Password Practices
Securing IoT devices is crucial for businesses to protect sensitive data and prevent potential data breaches. Unfortunately, misconfigurations can render IoT device security functions irrelevant, leading to costly remediation efforts. Data breaches resulting from IoT compromises can cost US businesses an average of $8.64 million to remediate.
To secure IoT devices, businesses should use strong Wi-Fi encryption and complex passwords for routers. This can help prevent firmware vulnerabilities, default login credentials, and on-path attacks. Additionally, security teams should ensure that older IoT technology with outdated firmware receives regular updates to mitigate security risks.
3. Employ Real-time IoT Monitoring
To secure IoT devices in business, it is essential to implement real-time IoT monitoring. This can help prevent cyber attacks on IoT devices that lack onboard security software. In addition, organizations must prioritize securing these devices to avoid data breaches. Finally, it is essential to treat IoT devices with the same level of security as traditional endpoints, such as computers or smartphones.
As the IoT market expands rapidly, securing connected devices is essential to prevent widespread cybersecurity incidents. Real-time IoT monitoring is an effective way for businesses to protect their devices and safeguard sensitive data from cyber-attacks.
4. Create a Separate Wi-Fi Network for IoT Devices
The Internet of Things (IoT) has revolutionized the way businesses operate, but it has also created more vulnerabilities for hackers to exploit. To secure IoT devices in the industry, creating a separate Wi-Fi network for these devices is essential. This can safeguard your leading network and prevent hackers from accessing necessary devices.
However, IoT devices are physical devices with internet connectivity that operate far from traditional networks, lack onboard security software, and are expanding rapidly. As a result, it takes only one open port or wrong password for a device to be easily compromised.
5. Keep Your Devices Up-To-Date
Securing IoT devices has become imperative for businesses that employ them. As the number of enterprise IoT devices rises, so do cybersecurity threats. Proper IoT security measures can protect businesses from costly security breaches. Keeping your devices up-to-date is essential for securing IoT devices in your industry. IoT devices lack in-built security and can be easy targets for hackers.
Maintaining privacy and security with multiple, always-on IoT devices is a considerable challenge for enterprises. The expanding IoT market is driving the need for more vital IoT security protocols to protect businesses from emerging cyber threats. By keeping devices up-to-date, enterprises can ensure the safety and privacy of their IoT networks.
6. Enable Multi-Factor Authentication
Multi-factor Authentication is an additional layer of security beyond just a password. Every time you log in to your internet of things device, you need to provide extra proof of identity. A verification code could be sent to your phone or email address in the form of an OTP.
Some devices that are part of the internet of things may need to enable multi-factor authentication. You can use third-party apps to enable 2FA in this instance. Having an extra layer of security with a trusted third-party service can give you extra peace of mind, even if your device has two-factor authentication with its associated mobile app.
In today’s world, securing any device connected to the internet has become essential, including IoT devices for businesses. The risks associated with IoT devices can range from data breaches to loss of sensitive information, which can harm your business. However, simple steps such as enabling multi-factor authentication, creating a separate Wi-Fi network for IoT devices, and keeping devices up-to-date can significantly enhance security measures.