Businesses aren't prepared for IoT attacks

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Businesses think an IoT-related cyber-attack would have them lose customers. So, what do they do to prepare for such an event? Almost nothing. 

A new report by Trend Micro found that almost half of IT decision makers see security as an afterthought of IoT projects, and almost two thirds agree that IoT-related cybersecurity threats increased in the last 12 months. This number is particularly high in the UK – 71 per cent.

Businesses experience roughly three attacks on IoT devices across a year, apparently. The report then goes to show that 38 per cent of those that either have, or plan on having an IoT solution, enlist security decision-makers in the implementation process. This means that a large number of businesses, globally, are opening themselves up to different cybersecurity threats.

“IoT systems are the future for businesses and many new types of connected devices are being introduced to corporate networks,” said Kevin Simzer, chief operating officer, Trend Micro. 

“While this is beneficial for business operations, the embedded operating systems of IoT devices aren’t designed for easy patching, which creates a universal cyber risk problem. The investment in security measures should mirror the investment in system upgrades to best mitigate the risk of a breach that would have a major impact on both the bottom line and customer trust.”

The biggest consequences of a breach are loss of customer trust and monetary loss.

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