Cybersecurity in the Internet of Things: Protecting Connected Devices

In 2024, cyberattacks on Internet of Things (IoT) devices have increased significantly, with a notable attack on Roku compromising over 576,000 accounts.  Experts predict that more than a quarter of all cyberattacks on businesses will soon involve IoT devices. But what does this mean for your business?

As a small or medium business owner, you might assume your organization isn’t a prime target for cyber incidents. Yet, the rise of IoT expands your exposure to potential threats and complicates your cybersecurity in unexpected ways.

Every IoT device connected to your network represents a potential entry point for cyberattacks. Unlike traditional IT equipment, many IoT devices lack robust security features, making them easier targets. Hackers can exploit these vulnerabilities to gain unauthorized access to your systems, steal sensitive data, or disrupt operations.

This guide unpacks the workings of IoT, its growing impact on businesses like yours, and the specific risks it brings to information security, privacy, and safety.

 

What is cybersecurity for the Internet of Things?

Cybersecurity for IoT refers to the practice of securing IoT devices and their associated networks from cyber threats and unauthorized access. Any device connected to the internet inherently faces the risk of being targeted by attackers. 

These attackers can exploit vulnerabilities, steal credentials, or use other methods to compromise IoT devices remotely. Once an IoT device is under the attacker’s control, it can become a tool for malicious activities such as data theft, distributed denial-of-service (DDoS) attacks, or breaching the broader network it is connected to.

How does cybersecurity impact IoT ecosystems?

The IoT environment presents new and distinct security threats, mainly as a launching ground for new malware novelties. Attackers use other compromised IoT devices to increase the breadth of their attacks on other organizations. 

Here’s how this process typically works:

1. Compromising IoT Devices
2. Building a Botnet
3. Launching Large-Scale Attacks
4. Unauthorized Surveillance
5. Hijacking communication channels

This growing threat is creating worry among stakeholders in many sectors, from cellular network operators and cloud service providers to the financial sector. IoT hacking is a systemic menace; it’s a growing global concern that needs to be addressed.

IoT devices frequently suffer from multiple security weaknesses, including:

• Insecure default settings: Devices often ship with weak or easily guessable passwords.
• Obsolete components: Outdated hardware or software components remain vulnerable to known exploits.
• Insecure update mechanisms: Flawed or absent update processes make it difficult to patch vulnerabilities effectively.

Attackers exploit these gaps to gain unauthorized access to sensitive data, disrupt critical operations, or cause widespread disruption by compromising interconnected devices.

What are the cybersecurity threats to IoT?

Cybersecurity threats for IoT ecosystems are susceptible to a wide range of security threats, ranging from basic password breaches to advanced attacks exploiting inherent vulnerabilities in devices. Below are some key examples:

1. Unauthorized access: Taking control of IoT devices by utilizing simple passwords or default logins.
2. Malware attacks: Rollout of specific IoT malware such as the Mirai malware, which reprograms other smart devices to work as ‘bots’ for many assaults, including the DDoS attack.
3. Distributed Denial-of-Service (DDoS) attacks: Launching massive attacks on networks or services using compromised IoT devices.
4. Data breaches: Theft of services that may be accessed through unauthorized means using IoT devices with a record or transfer of important data.
5. Firmware exploits: To literally take over or install the malware in the device firmware by finding the weaknesses of the firmware.
6. Eavesdropping and Man-in-the-Middle (MitM) attack: Spying or intercepting messages that are being communicated by IoT devices and servers.
7. Physical attacks: Interference with devices to gain unauthorized access or for impairing their normal performance.
8. Weak or insecure encryption: Lack of encryption implementation or a wrong approach means that data remains exposed when in transit or even stored.
9. Rogue devices: The act of bringing into a network unauthorized IoT devices to leverage other linked systems.
10. Ransomware: Holding primary IoT devices or systems as ‘hostage’ before the demanded ransom is provided.
11. Insecure software or updates: Exploiting outdated or insecure update mechanisms to inject malware or compromise systems.
12. Supply chain attacks: Targeting IoT device manufacturing or distribution vulnerabilities to introduce malicious components.
13. Insider threats: Employees or contractors misuse IoT devices to bypass security protocols or steal information.
14. Side-channel attacks: Exploiting physical emanations (e.g., power consumption or electromagnetic signals) to extract sensitive information.
15. Device hijacking: Using IoT devices for unauthorized purposes, such as cryptomining or spying.

“The absence of mandatory security standards leaves critical infrastructure highly vulnerable to cyberattacks.”

Security challenges of IoT cybersecurity

IoT security challenges include device vulnerabilities, weak encryption, lack of regular updates, and risks to data privacy.

Here are some of them:

1. Not enough security measures

IoT device manufacturers often prioritize functionality and user convenience over robust security protocols. This way, they end up sidelining the recommendations of cyber security experts. This trade-off leaves critical vulnerabilities unaddressed, making IoT devices an attractive target for attackers.

Many devices lack strong encryption or regular software updates, creating easy entry points for hackers. These security vulnerabilities can lead to severe consequences, such as data leaks, unauthorized access to sensitive systems, and security breaches compromising larger networks.

2. Weak passwords

Default passwords on many IoT devices often present a critical security flaw. These passwords are typically simplistic or widely publicized, making them prime targets for cyber attackers. 

Despite the inherent potential risks, users frequently neglect to replace these default credentials with stronger, more secure alternatives, exposing their physical devices.

When attackers gain unauthorized access through weak passwords, the consequences can extend far beyond the compromised device. These devices can be exploited for malicious activities such as data theft, surveillance, or integration into botnets to execute large-scale attacks like DDoS.

3. Data privacy 

The enormous number of devices creating information about the world and transferring it to the Internet puts privacy at risk. 

When proper measures are not taken, safeguarding such numbers and information may be quite risky. The risk of leakage and unauthorized use is very high. 

These aspects justify the need for adequate measures to safeguard this data throughout its lifetime.

4. Ransomware threats 

It is malicious software whose primary aim is to encrypt the information, making it impossible for the rightful user to access it. 

Usually, attackers who use ransomware ask for a ransom in exchange for unlocking the files or blocking the release of the content. 

These are some of the reasons why IoT devices have become worst affected by such attacks. The data these devices collect and store is considered sensitive by cybercriminals, who are always on the prowl for devices they can use to their advantage in their bids to score financially.

5. Absence of standardization

The lack of standardized security protocols across IoT devices remains a fundamental challenge. Manufacturers often follow disparate security concerns, resulting in inconsistent device protection levels. 

Moreover, the security landscape is further complicated by varying policies from IoT service providers, app developers, and the industries that deploy these devices.

This inconsistency is a key factor in why some IoT devices are more prone to cyberattacks than others.

6. Physical Security Vulnerabilities in IoT

IoT devices are often deployed in remote or unsecured locations, making them vulnerable to physical tampering. Attackers can exploit this by gaining direct access to the device, bypassing authentication mechanisms, or installing malicious hardware or firmware. 

For example, outdoors surveillance cameras, sensors, or smart meters can be dismantled or modified, exposing sensitive data or compromising the entire network they are connected to. 

Future of IoT cybersecurity

The future of IoT cybersecurity appears bright and is driven by advancements in AI, robust network security solutions, and the strategic use of separate networks. 

AI algorithms can now analyze vast amounts of IoT data to identify threats, detect anomalies, and provide automatic responses. 

To attest to this, a 2024 Forbes report projects the AI-powered security solutions market for IoT to reach $8.5 billion by 2027, underscoring AI’s growing role in enhancing IoT security.

What are the best ways to improve security for IoT devices?

To improve robust security measures for IoT devices, you can use SIEM systems, IDS, access control measures, and other technology. 

Here is what you can implement.

1. Use of IDS and SIEM systems

Intrusion Detection Systems (IDS) and Security Information and Event Management (SIEM) systems are critical for detecting and preventing unauthorized access or exposure of sensitive data in IoT environments. 

While both systems offer distinct security features, their integration enhances security monitoring and threat response. Here’s how they contribute to IoT security:

• Deploy IDS across the IoT network to monitor suspicious activities and generate event logs for analysis.
• Integrate IDS with SIEM to centralize log data and correlate events from all IoT devices, such as smart home devices, servers, and entire network components.
• Configure SIEM Analytics to look for patterns or trends that characterize emerging threats within the IoT Value Chain.
• Implement real-time detection using SIEM alerts in situations that involve anomalies or unauthorized access attempts.

2. Sharing CTI to profile and track attackers

Cybersecurity Threat Intelligence (CTI) is defined as the gathering, analysis, and dissemination of intelligence related to threats to computer systems and their users.

CTI helps identify the cyber attackers’ actions, strategies, and processes or TTP.

Here’s how it helps:

• Gather data from various sources, such as threat feeds, internal security tools, and open-source intelligence (OSINT), and analyze it to identify new and emerging IoT threats.
• Share CTI with other industry professionals, government agencies, and cybersecurity vendors. This may be done through the existing Information Sharing and Analysis Centers (ISACs) or by using the so-called ‘open’ threat intelligence sharing platforms.
• IoT businesses should use threat intelligence to update their security policies in accordance with the newer threat techniques used by cyber actors to attack IoT devices.
• Continuously monitor the IoT ecosystem using the shared CTI and respond rapidly to identified threats or changes in attacker behavior, adjusting defenses as needed.

3. Use the GRC automation tool

Managing compliance can be cumbersome and reactive when handled only during certain times of the year. This can result in rushed control tests, missed patches, inadequate evidence collection, and unanticipated surprises during audits for IoT environments. 

In a field as dynamic as IoT security, relying on manual, periodic approaches to compliance introduces significant cybersecurity risks and inefficiencies. Here’s how leveraging a GRC automation tool can streamline IoT security compliance and maintain continuous monitoring:

• Identify the specific compliance standards and regulations your IoT devices and network must adhere to, such as GDPR, HIPAA, or NIST. This will help you tailor the GRC tool to your organization’s needs.
• Map out all IoT devices and their respective controls within the GRC tool to ensure they are continuously monitored. 
• Use the GRC tool’s automated monitoring features to track the security status of all IoT devices and network components. 
• Enable automated evidence collection to document compliance activities, such as control implementations, security tests, and remediation actions.

4. Strengthen access controls

Microsoft recently made headlines by tying security directly to employee performance reviews. In an internal memo, Microsoft Chief People Officer Kathleen Hogan highlighted CEO Satya Nadella’s directive: “Security above all else.” This bold stance underscores a critical truth: security is an organizational priority.

The foundation lies in minimizing initial access risks to your systems. Research from Google shows that valid account compromises through weak or leaked credentials account for over half of observed incidents in cloud environments. 

Sprinto simplifies this by mapping users to critical systems, enforcing adaptive access management policies, and flagging role-based anomalies. It ensures visibility into system access while balancing security, usability, and compliance.

The key question is: Is your access control strategy keeping up, and are you ready to invest in it?

Watch this video to know more –

Adhering to NIST Standards for IoT Security

NIST has several guidelines and frameworks for raising the bar in cybersecurity, including that of the Internet of Things.

For example, the NIST special publications include the frameworks of SP 800-53 and SP 800-171 control and practice on IoT devices and system security. 

Here’s how you can achieve this:

• Determine which NIST standards are most relevant to your organization’s IoT use cases. 
• Conduct an inventory of all IoT devices and systems within your network. Assess the associated risks, including device vulnerabilities, potential attack vectors, and the impact of data breaches.
• Apply the recommended security controls from NIST frameworks, such as strong access management (multi-factor authentication).
• Use the CSF’s five core functions—Identify, Protect, Detect, Respond, Recover—to build an IoT security strategy.

How can Sprinto help?

The IoT ecosystem is a double-edged sword: Its connectivity promises infinite opportunities, but that makes networks vulnerable to many risks. One weak point is enough for hackers to penetrate a firm’s entire device or network. 

In cases where IoT devices control various essential processes in defense or other industries whose failure can lead to dire consequences, such breaches may result in a catastrophic outcome – leakage of critical information, operations shut down, or physical destruction, to mention but a few.

This is where Sprinto comes in. Sprinto addresses these challenges by providing a purpose-built cloud-native compliance automation platform for fast-growing companies. 

• Sprinto’s automation capabilities continuously monitor IoT systems, swiftly identifying and resolving security anomalies to prevent potential threats.
• Designed for cloud environments, Sprinto seamlessly integrates into IoT ecosystems, offering customized solutions for safeguarding data and operations.
• Sprinto enables businesses to identify and address high-risk areas within IoT deployments efficiently.
• Sprinto integrates pre-approved security compliance standards into workflows, ensuring organizations meet regulatory and industry requirements with ease.

Sprinto supports proactive risk management by automating vulnerability assessments and prioritizing high-risk areas in IoT deployments.

Interested? Get on a call with us to know more.

FAQs

What are examples of cyber threats for IoT?

Examples of cyber threats to IoT include ransomware attacks, where hackers encrypt data and demand payment for access on smart technologies; DDoS attacks, which overwhelm devices and networks to disrupt services; and botnet attacks, where compromised IoT devices are grouped to execute large-scale cyberattacks. 

What are the three types of IoT security?

The three types of IoT security are Network Security, which protects devices from unauthorized access; Embedded Security, which integrates on-device protections like nano agents; and Firmware Security, which assesses and updates device firmware to address vulnerabilities.

What does an IoT cybersecurity company?

IoT cybersecurity companies specialize in securing connected devices like wearable devices, smart watches, smart home appliances, smart thermostats, and networks from threats. They provide solutions like device authentication, secure data transmission, intrusion detection systems, and threat intelligence.