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Understanding IoT cybersecurity risks

Deloitte and Dragos share the top threats to organizations and the need for a secure-by-design approach to the Internet of Things.

Understanding IoT Cybersecurity Risks
Understanding IoT Cybersecurity Risks

Cybersecurity is on every manufacturer’s mind these days as more machines are connected and more groups and alliances emerge as a way to promote security standards and best practices for automation applications. While the focus has been on the control systems as a result of some high profile data breaches, there are probably a thousand other “little things” on the network — from sensors to 3-D printers — that could potentially be an open door to a bad actor.

With that in mind, Deloitte, which partnered with Dragos in 2017 to expand its cyber risk services for industrial control systems, recently polled over 4,200 professionals to gauge how much they understand the risk exposure of Internet of Things (IoT) devices. Based on the feedback from the respondents, there is still a lot to overcome when it comes to IoT and cybersecurity.

When asked: How confident are you that your organization’s connected products, devices, or other “things” are secure today?, the consensus was, “not very.” More than half of the respondents (51 percent) were somewhat confident, while 23 percent were uncertain or somewhat not confident. Only 18 percent said they felt very confident in their organizations’ ability to secure connected products and devices.That left 8 percent who stated they are “not confident at all.”

According to Deloitte, this lack of confidence may be the result of an overall lack of standardization across industries for security and awareness of cyber risks and connected devices.

Meanwhile, the number of cyberattacks, data breaches and overall business disruption caused by unsecured IoT devices are increasing because companies don’t know the depth and breadth of the risk exposures they face.

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