How should companies secure IoT devices?
The Internet of Technology (IoT) is a vast network of interconnected physical devices that can exchange data via the internet. These devices could be smaller in size & can have sensors to perform numerous tasks in manufacturing units, factories, and enterprises without human intervention. But IoT devices are not as secure as they became widespread. Hence, enterprises and manufacturing units should come up with solutions on how to secure IoT devices. Since securing IoT systems also plays a considerable role in corporate security, this article will give a comprehensive guide on the pain points and security issues of IoT devices & how to secure IoT devices.
Why IoT security
The demand for IoT devices & application development is reaching its peak globally with its fast innovation. According to the Allied Market Research report, the global IoT market size was 740.47 billion USD in 2020 and will reach 4,421.62 billion USD by 2030. It will project a compound annual growth rate (CAGR) of 19.67 percent from 2021 to 2030. This increasing demand for IoT is luring cybercriminals to breach them. Thus, enterprises should provide security postures & measures to prevent IoT devices and systems from compromising.
Most critical IoT security challenges
Before understanding how to secure IoT devices, let us explore the various security challenges enterprises face.
1. Outdated software and firmware: IoT software and firmware often remain vulnerable and unpatched when any new flaw appears in the market. Attackers often exploit these vulnerabilities to compromise enterprise networks and systems. Thus IoT vendors must ship such devices with up-to-date software & firmware. They should also send online updates if any new patch gets released.
2. Massive attack surface: IoT devices increase their attack surface with every new connection. The increase in attack surface brings new opportunities for cybercriminals to identify and exploit those vulnerabilities.
3. Incorrect access control: IoT services should remain accessible to owners & those employees whom they can trust. However, most IoT devices remain insecure with poor access control. Authentication in IoT remains inadequately enforced, and physical security also lacks proper protection.
4. Lack of standard encryption: When multiple devices send data in plain text or through weak encryption algorithms, a Man-in-the-Middle (MiTM) attack can obtain the data, password, or other information sent. By analyzing the endpoint’s network traffic, cybercriminals can easily extract information and login credentials passing over those IoT devices.
5. Insufficient privacy protection: Enterprise systems and manufacturing units that leverage IoT devices often hold consumer data and video or audio recordings of various locations. If attackers can compromise a single IoT device, they can access all other devices connected to the network and steal those recording or personal details about customers and employees.
There are various other challenges to IoT security, such as insufficient physical security, intrusion ignorance, supply chain attacks, use of untrusted APIs and open-source codes, etc.
How do enterprises secure IoT devices?
According to a research report, the IoT security market will grow to 41.2 billion USD, with a projected growth rate of 21.10 percent by 2030. Since we have gathered a clear picture of the various IoT challenges, let’s jump into how to secure IoT devices.
· Employ device discovery: Before preventing IoT devices with encryption and endpoint security solutions, security professionals should discover the exact number of IoT devices. Such visibility will help enterprises get a clear idea of how many IoT devices and assets are connected to the network. To check for updated firmware and IoT software, security professionals should collect manufacturers’ detail, vendors’ names, model IDs, serial numbers, firmware versions, etc.
· Apply network segmentation: Since IoT systems have a vast attack surface, security professionals segregate the entire IoT network into subdivisions. It enables strict granular control over the complete IoT network. Such segmentation helps security professionals detect unknown lateral movement attacks between devices and workloads. Segmenting the network eliminates the damage caused by cybercriminals and help security professionals get a detailed insight into which IoT devices are unpatched or exposed to cyber threat.
· Active monitoring of IoT devices: Security professionals should also deploy tools for real-time monitoring, notifying, and reporting critical incidents and threats within the IoT network. Traditional endpoint security solutions do not feature automated incident monitoring. Thus, enterprises should deploy the latest real-time solutions that can automatically & instantly prompt the security professional about any breach.
· Physical security: IoT devices often remain open in the public space within the enterprise or manufacturing units. It can cause a physical breach. Anyone with prior technical knowledge can interfere with the communication or steal sensitive information traversing within the connected endpoints. Thus, enterprises should maintain physical security for IoT devices.
· Secure password and robust encryption practices: Poor passwords and encryption can fuel cybercriminals to gain access to IoT devices and its network. Numerous IoT devices come with preset passwords that are available online. Cybercriminals can use those to gain access. Thus, enterprises should reset those passwords and implement robust encryption algorithms to enhance overall IoT security.
· Seek help from security experts: Enterprises and manufacturing units should also contact cybersecurity firms and service providers like Packetlabs to get expert guidance and solutions on IoT security.
Conclusion
IoT security is a sensitive vertical in the overall security posture for enterprises and other businesses. This article highlighted some critical challenges & how to secure IoT devices.
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