Growing Security Concerns Due To Internet of Things (IoT)

Growing Security Concerns Due To Internet of Things (IoT)
by Faisal Mushtaq on 03-27-2016 at 4:00 pm

 It is believed that by 2020, there will be about 50 billion connected devices across the world, more than 7 times the present human population. The growth of digital devices is increasing exponentially because both users and technology are getting smarter every next day and the compatibility between the two is improving phenomenally with the unprecedented growth in the internet, mobile, robotics and IT technologies. Ubiquitous computing, ubiquitous use of IP and ubiquitous connectivity are the three major propellers of the IoT, and that’s why it has been successful in bringing disruptive transformation in all spheres of the human life. Today, the IoT is responsible for almost every digital communication, from Telephony to Emailing and Machine-to-Human communication (M2H) to Vehicle Telematics, all are grossly dependent on the IoT.

How the IoT is Surrounded By Incessant Threats?
An IoT network is very much required today for data collection, closed loop functioning and network resource preservation, and all of these procedures are terribly prone to risk and threats. On the other hand, it is very clear that moving without using the latest technology is like moving into a dark and directionless world, and success of businesses as well as the nations completely relies on the adoption of the IoT. But, are you aware that stalkers are always following you? They stealthily try to eavesdrop your messages and if you are not moving through a safe alley, from simple espionage to an easy access to intellectual property, there are enough chances that they will ambush upon your network and do everything to steal the data, which is the be-all and end-all of your business.

If you love tracking news then you might have heard about the ONGC case. In the recent past, one of the Navratna of India’s public sector, the Oil and Natural Gas Corporation Limited (ONGC) lost Rs. 197 crore when the perpetrators successfully made access to the official email account of an employee. They duplicated the public sector firm’s official e-mail address and used it to convince an overseas client to make the payment of a Rs. 197 crore deal. It is just one case in the huge Pandora box of the IoT threats.

How to Combat the IoT Threats?

We should always make ourselves ensured that the technology we are using is safe and we are moving in a protected environment. Because the more we are dependent on the IoT, the more vulnerable we are to espionage, phishing, ransomeware and system hacking. Therefore, to protect data and other useful information, businesses and government agencies must establish a stringent security system based on the four key components of the security framework viz., Authentication, Authorization, Network Enforced Policy and Secure Analytics. The Defense Research and Development Organization (DRDO) of India have chosen Multifactor Authentication solution for the effective re-validation of the credentials & authenticity of the users into the organization’s ERP. In addition to Multifactor Authentication, Data Leak Protection, Advanced Persistent Threat Protection, and IPS/ Firewall can help greatly reduce the risks.