IoT Security: Challenges and Solutions for Businesses Worldwide

Technology analysts are predicting that The Internet of Things (IoT) will continue to influence global society in parallel with advanced and evolving technology that sees integration with smart IoT devices and apps.

The International Electrotechnical Commission (IEC) defined IoT as ‘an infrastructure of interconnected objects, people, systems and information resources together with intelligent services to allow them to process information of the physical and the virtual world and react.’ IoT is changing how businesses operate, offering expansive opportunities for IoT manufacturers to create IoT solutions that will improve efficiency, aid data-driven decision-making and boost cost savings. IoT impacts all areas of our lives, as Forbes explains, ‘it is so prevalent it can almost seem easier to count what isn’t related to this area.’

IoT Security adds an extra layer of complexity for business and tech leaders as businesses integrate IoT devices into their operations. Ensuring the safety of these cyber networks is crucial, since vulnerabilities can lead to significant data breaches, operational disruptions, and financial loss. This blog will explore significant IoT security challenges and provide insight into how organizations can better protect their IoT ecosystems.

 

IoT Security Breaches: An Analysis 

Breaches provide case studies for IoT security that highlight significant past events and help to shape future strategies and protocols for the better.

 

The Mirai Botnet Attack

In October 2016, the Mirai botnet attack saw IoT devices such as cameras and routers compromised and used to launch a distributed denial-of-service (DDoS) attack. It caused several websites to go offline, including CNN, Netflix, and Twitter. For better IoT security in this instance, securing default passwords and regularly updating device firmware may have prevented unauthorized access.

 

Stuxnet

Stuxnet was a targeted attack on a uranium enrichment plant in Iran. The hackers compromised the software, giving them full control and allowing them to manipulate machines and gain access to vital information.

By learning from these security breaches, tech users and organizations can better protect their IoT devices and mitigate potential risks.

 

Common IoT Security Risks

IoT security solutions aim to eradicate potential risks that can damage the accessibility and confidentiality of IoT systems. Effective security strategies and IoT solutions can be created from understanding IoT security risks the cyber world is faced with.

 

Authentication and Encryption Issues

Many IoT devices are vulnerable to unauthorized access due to weak or non-existent encryption protocols. Confidential data can be exposed to manipulation by attackers. This includes IoT devices with easily guessable default passwords that users fail to change, providing an easy entry point for attackers. Even when users change default passwords, they frequently opt for weak alternatives that can be easily compromised.

 

Software and Firmware Vulnerabilities

IoT devices often run outdated firmware and software that contain security flaws. Issues may also arise from delays applying security patches, leaving them open to attack. Businesses must prioritize reviewing and updating firmware regularly in order to ensure they are protecting their data.

Many IoT devices rely on open-source components that may feature inadequate testing during the development phase. This can leave security flaws undetected and the IoT manufacturers exploited.

 

Protocol and Integration Challenges

Many IoT devices use redundant or insecure communication protocols, exposing them to attacks. Integrating IoT devices with existing security systems can be challenging, forming holes in its protection. Application Programming Interfaces (APIs) that connect IoT devices to other systems can be manipulated if not properly secured. In fact, IT professionals consider about 60% of IoT devices to be vulnerable to medium- or high-severity attacks.

 

Regulation and Standardization Issues

IoT security that lacks universal regulation and standards can lead to unreliable protection across IoT devices and platforms. IoT device manufacturers that prioritize functionality over security may also face inadequate security controls.

 

Manufacturing Supply Chain Risks

IoT devices are often located in unsecured physical locations, making them susceptible to tampering or theft. The IoT solutions available for securing assets are as varied as the devices themselves. In reality, the whole global supply chain of IoT manufacturers risk being compromised even before reaching the end user. The issue of keeping IoT devices updated and maintained can be difficult, leading to prolonged exposure to those security vulnerabilities.

 

Data and Awareness Challenges

IoT devices often collect and transmit sensitive data, which can be at risk if not properly secured. The sheer volume of data generated by IoT devices can overwhelm security systems, making it difficult to identify threats. Control of this information is weak in current IoT techniques. Data can be collected passively, meaning privacy breaches can go unnoticed.

The challenge becomes greater when the users or organizations do not fully understand the IoT security risks associated with the devices, leading to poor security practices. Without comprehensive visibility into IoT ecosystems, it is challenging to monitor and protect all connected devices.

 

Best Practices in IoT Security

The whitepaper ‘Considerations for Managing Internet of Things (IoT) Cybersecurity and Privacy Risks’ provides comprehensive guidelines for securing IoT devices and networks, emphasizing the importance of a multi-layered approach. Here are the key points covered:

 

Implementing Robust Authentication Mechanisms

Robust authentication mechanisms are essential to ensure that only authorized users and devices can access the IoT network. This includes using multi-factor authentication (MFA) and strong, unique credentials for each device.

 

Data Encryption

Data encryption plays a crucial role in IoT security, ensuring confidentiality and integrity of the data. Encrypting data both in motion and at rest helps safeguard against interception and unauthorized access. Implementing end-to-end encryption protocols ensures that data remains secure throughout its entire lifecycle.

Digital Matter complies with the Advanced Encryption Standard (AES) with a 256-bit encryption key stored on each device. Used by the US Military, AES-256 can’t be cracked, which is why it is regarded as military spec encryption.

 

Updating and Patching Firmware and Software

Regular updates and patches are vital to address known vulnerabilities. Ensuring that firmware and software are kept up to date mitigates the risk of exploitation by cybercriminals. Automated update mechanisms can help maintain security without manual intervention.

 

Secure Communication Protocols

Hyper Text Protocol Secure (HTTPS) and Transport Layer Security (TLS) helps protects data. HTTPS appears in the URL when a website is secured by a TLS certificate, users can then view the certificate that reveals information regarding the issuing authority and the corporate name of the website owner. TLS is a cryptographic protocol familiar through its use in secure web browsing, in particular the padlock icon that appears in web browsers when a secure session is established. These protocols help prevent the eavesdropping and tampering of IoT devices, ensuring the security of data.

 

Industry Standards and Regulations

Working to industry standards and regulations ensures that IoT devices meet established security benchmarks. IoT users that comply with standards such as ISO 27001, will have GDPR data processing security requirements covered.

 

Protecting Virtual Boundaries

Physical security is often overlooked but is important for GPS IoT devices that are situated in accessible locations. There are solutions available like Geofencing technology, which can significantly elevate asset security when used with anti-theft tracking devices. Geofencing creates virtual boundaries, so when GPS IoT devices enter or leave the designated area, an alert is triggered. The asset owner can then monitor and track its position in real-time. This is key feature we build into our Digital Matter devices.

 

Education

IoT security can be bolstered by education and awareness. Training users and stakeholders on security best practices, potential threats, and safe usage can reduce the risk of human error and improve overall security.

 

Audits, Assessments, and Testing

Regular security audits and assessments help identify vulnerabilities and ensure compliance with security policies. Thorough testing before deployment can uncover potential IoT Security issues and allow time to build proactive mitigation strategies.

 

Password Policies

A 2020 study revealed that the average internet user has around 100 passwords, which may explain why some choose to use the default password for their IoT devices. Default passwords are a common IoT security weakness. Changing these to strong, unique passwords and enforcing strict password policies can prevent unauthorized access and enhance overall security.

 

Device Monitoring

Monitoring IoT devices for unusual activity is important for the early detection of security incidents against cyberattacks and data breaches. IoT monitoring also allows the organization to predict maintenance issues meaning longer infrastructure longevity.

 

Device Segregation

Network segmentation involves placing IoT devices on a separate network from critical systems. This reduces the risk of attack and contains potential IoT security breaches, limiting their impact.

 

Secure Configuration and Management of APIs

IoT devices often connect to other systems using Application Programming Interfaces (APIs). APIs are a set of protocols and tools for building software applications that specify how software components should interact. A secure configuration and well-managed API will help prevent exploitation and protect data.

 

Digital Matter: Designed with Security in Mind

Security is our top priority at Digital Matter and we have implemented comprehensive security protocols on all our devices and software to protect against attacks on the integrity and confidentiality of your telematics data.

We protect your data by using AES256CCM encryption for secure data transmission, ensuring devices and servers are legitimate through robust authentication methods, and implementing secure coding practices in their microcontrollers. We use unique encryption keys for each device and employ rolling codes for enhanced security. Additionally, for third-party data transmission, we use HTTPS, and for LoRaWAN® networks, AES-128 encryption for end-to-end data security.

Explore our range of asset tracking and sensor monitoring devices here.

 

IoT Security: Practical Strategies and Tips

The IoT Security Foundation explains that ‘securing IoT is more than just technical solutions; it requires knowledgeable people, sound processes, and fit-for-purpose tech’.

Experienced IoT cybersecurity companies recommend a three-pronged approach to protecting data, IoT devices, and connections:

• Secure provisioning of IoT devices.
• Secure connectivity between IoT devices and the cloud.
• Securing data in the cloud during processing and storage.

To enhance IoT security, businesses should:

• Implement multi-layered IoT security by combining various security measures to create a robust defence.
• Automate IoT security processes by using automated tools for updates, monitoring, and patch management.
• Adopt zero trust principles by assuming that all IoT devices and users are potential threats and check them regularly.
• Stay updated on emerging threats and engage in threat intelligence sharing by participating in industry forums.
• Develop an incident response plan by preparing for potential IoT security incidents with a well-defined response plan to minimize impact and recovery time.

 

The Future of IoT Security

Experts predict that by 2025, IoT devices manufacturing will have produced 30.9 billion units worldwide, making IoT an integral part of business operations and daily life. As IoT usage continues to rise, proactive IoT security measures are critical. Vigorous IoT security measures are essential in preventing security breaches, operational disruptions, and financial losses.

Adopting best practices and utilizing effective strategies will safeguard IoT infrastructure for the overall safety of IoT users worldwide. Stay current with industry best practices and seek advice from trusted sources like the IoT Security Foundation, NIST, and Digital Matter to elevate IoT security and protect your networks from evolving threats.

Contact us to discuss your unique security requirements with one of our IoT specialists to find the best Digital Matter solution for your business needs.