IoT Security Best Practices to Confront Security Challenges

Bineesh Mathew | April 13, 2022 | 106 views

IoT Security
The demand for IoT devices is increasing. According to Statista, the estimated global IoT spending will be $1.1 trillion approximately. So, it is evident that there will be a surge in IoT devices in businesses. However, the fact is that these devices come with a lot of IoT security issues that affect the overall business process.

Some of the security challenges of IoT are:

  • Insecure interfaces
  • IoT malware and ransomware
  • Gap in IoT skills
  • Insufficient testing and updating
  • Brute-forcing and the issue of default passwords
  • Highjacking IoT devices
  • Home Invasions

Indeed, the dangers of IoT security are here to stay. However, you can take steps to protect your users from these threats by using best practices on your IoT device.

  • Compared to 15.8 billion in 2021, the size of the IoT security market is projected to grow to 18.6 billion in 2022.
  • The market is predicted to nearly double in size by 2025, making it a smart bet to invest in IoT security now.


IoT Security Challenges for New Age Businesses

The Internet of Things has introduced new ways to interact with the internet. IoT is no longer restricted to personal use, machines use it too, with the help of human help or by following the directions.

The internet allows devices to communicate with one another. A thermostat, for example, receives information about the room temperature and adjusts it accordingly. Likewise, lights switch on and off automatically, and sensors denote the time of day and the amount of light outside. All of this is accomplished through constant internet communication.

People are excited about IoT, which is why they’re willing to use it even before it is ready and before the devices comply with the safety regulations.

IoT technology is still in its early stages. Therefore, makers and consumers must overcome numerous IoT security obstacles. These obstacles are primarily caused by:

  • Inadequate user knowledge
  • Inconsistent production standards
  • Inadequate upkeep and upgrades

IoT security concerns and vulnerabilities can be presented in broad categories. Some of the most significant IoT security challenges are:

  • Hijacking of IoT devices and ransomware
  • Insufficient testing and lack of updates
  • IoT-driven financial crime
  • Rogue and counterfeit IoT devices
  • Lack of user awareness regarding the Internet of Things security


IoT Security Solutions for New Age Businesses


Update your IoT Devices Regularly

Automatic updates must be in place to check for official updates by the device maker. This installs security patches on your device(s), preventing hackers from infiltrating them in novel ways.

There are two ways to regularly update IoT devices for businesses regularly.

  • Physical Update
This is the traditional way of physically accessing the system or device and updating it. This can be as simple as connecting the IoT device to a computer and updating it.

  • Remote/OTA (Over-The-Air) Update
Numerous devices make it difficult to update every device through a physical update. OTA updates are used to update IoT devices remotely. Again, wireless communication mediums can carry this out with reduced human assistance.

Change your Passwords Regularly and Make them Strong

Changing passwords on various accounts, laptops, and mobile devices frequently has been the norm for a long time now. However, while changing passwords is a standard practice, IoT users often ignore it.

Changing the passwords on a regular basis reduces the likelihood of getting hacked. There is a chance that the manufacturers have the same password for all the IoT devices they produce. So, it is advised to change password as soon as it is installed. Strong passwords improve the security of IoT devices.

Use IoT Data Encryption to Prevent Data Breaches

If you're serious about safeguarding users' privacy and preventing data breaches, you must encrypt data between IoT devices at rest and in transit. This is a critical step in protecting users, whether you use symmetric or asymmetric keys.

There are many essential elements to implementing data encryption, such as:

  • Collaborative strategy
  • Data classification
  • Protect decryption keys
  • Control and limit access
  • Use of SSL decryption technology


Test and Update the IoT Hardware Regularly

To ensure IoT hardware security, set up a robust testing infrastructure. This includes thoroughly testing the IoT device's range, capacity, and latency. In addition, chip manufacturers for IoT devices must strengthen processors for increased IoT security and lower power consumption without making them too expensive for users or too impractical to use in current IoT devices. Many IoT devices available on the market today are indeed cheap and disposable, but they have very little power.

In addition, IoT device manufacturers must make sure that any third-party parts and modules they use in their IoT devices work correctly with their IoT applications.


Avoid Rush Launch of IoT Devices

Manufacturers of IoT devices are frequently rushing to introduce their products to the market at the lowest prices to stay ahead of the competition. Most manufacturers don't pay enough attention to IoT security updates and patches. Unfortunately, in the long run, this poses a severe threat to the security of their IoT devices. So, IoT device manufacturers should not release their products until they have thought about keeping their devices and apps safe in the long run.

The future IoT Security

Industry experts are researching the security problems associated with the Internet of Things. This aproach is expected to bring more possibilities of IoT devices in businesses, solving many security issues.

By 2023, more and more businesses will see the scope of the IoT, with business investment accounting for more than half of all IoT spending. This means that manufacturers will need to double down on their IoT security efforts to meet corporate expectations.

Ordinary users will also have to learn about and stay updated on IoT security changes and their significance.

This, like other advancements, begins with concerted efforts at a higher level. Among other things, the U.S. Congress sponsored a cybersecurity bill in March 2019. This bill would ensure that IoT devices bought by the government have at least basic security features.

Summing Up

On a meticulous evaluation, one can say that the bigger the IoT world gets, the more critical it becomes to prioritize IoT data privacy and security.

Unfortunately, cyber-attacks and rogue devices are here to stay, and with time, they will get smarter. Therefore, you have to keep up-to-date on the latest attacks and ensure that you continue to focus on opting for the most acceptable security and privacy features possible. This protects you from data breaches and increases customer confidence and trust in your product.


Frequently Asked Questions


Why is IoT security a necessity for businesses?

For IoT gadgets to function properly, they require secure hardware, software, and internet connectivity. Unfortunately, any connected equipment can be hacked if IoT security is not in place. Once they gain control, hackers can take control over the object's functioning and steal the user's digital data.

What are some of the security issues in IoT?

A lot of security issues include not having access control, overly large attack surface, outdated software, lack of encryption, application vulnerabilities, lack of trusted execution environment, vendor security posture, and insufficient privacy protection.

Are IoT devices safe?

While most IT systems can patch security problems through frequent updates, most IoT devices cannot. Security flaws remain unnoticed and unattended for an indefinite period. IoT devices that have an exceptionally extended shelf life will stop working if the manufacturer stops supporting them.

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Nextel Mexico is a company belonging to the corporate NII Holdings, Inc. based in Reston, Virginia and is present also in Argentina, Brazil, Chile and Peru, publicly listed on the stock market (NIHD). Since 1998, it has proven to be a solid and dynamic company that offers quality service its users, and added values ​​in different fields. Throughout 13 years of presence in the country, Nextel has been characterized by innovation in terms of communication and provide users with solutions that optimize its activities and resources. Nextel is a leading radio service. A clear example of this evolution are the attractive tariff plans, value added services and Nextel teams are now lighter, stylized, always taking into account the needs of the story to public communication he means.

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Cybeats Announces Partnership with Veracode, an Industry-Leading Application Security Firm

Cybeats | September 29, 2022

Cybeats Technologies Inc., a leading software supply chain risk and security technology provider announces a strategic partnership with Veracode, a leading global provider of application security testing solutions. The partnership will leverage complementary expertise to ensure customers receive the highest standard of cybersecurity solutions. Cybeats' software supply chain security product, SBOM Studio, will be available to customers through Veracode Partners, and the companies will explore joint commercial opportunities. Once generated within the Veracode Continuous Software Security Platform, a Software Bill of Materials (SBOM) can enable greater software security by offering a full inventory of the third-party components used within an application. Cybeats SBOM Studio is an enterprise-class solution that helps companies understand and track third-party components that are an integral part of their own software. Veracode will provide advice and guidance around the commercial deployment of SBOM Studio within its existing customer base. The partnership aims to enable both companies to continue to expand their existing presence in the global cybersecurity market. Through this alliance, the companies' joint customers will be able to maximize their technology investments and procure, develop, and deploy secure software, while reducing the risk of a security breach resulting from weak links in their software supply chain. "As a Veracode Elite Technology Alliance Partner, Cybeats brings additional expert solutions to the frictionless developer experience already offered by our Continuous Software Security Platform," said Laurie Haley, Vice President of Strategic Alliances at Veracode. "By complementing our existing software composition analysis capability, Cybeats' integrated solutions will allow customers to maximize SBOM (Software Bill of Materials) utility and simplify their workflow for greater ROI." "We are honoured to partner with Veracode to expand each other's presence in the global cybersecurity market. As the cyber risk related to software supply chain attacks continues to mount, deep visibility and universal transparency using SBOMS is necessary for resilient cybersecurity defense." Yoav Raiter, CEO, Cybeats "In this modern era of rapid development, the importance of time to market and automation is paramount. Together, Veracode and Cybeats offer a substantial contribution to enabling our customers to align with the SBOM market needs and seamlessly support practices mentioned in SSDF NIST 800-218 framework without increasing the overhead on their development and product security teams," said Dmitry Raidman, CTO, Cybeats Through a single, centralized platform offering comprehensive visibility into vulnerabilities using all software security testing types, Veracode delivers one of the industry's only cloud-native solutions that allows partners to onboard quickly and seamlessly, so companies can securely move AppSec to the cloud. As a result of this partnership, Veracode can easily integrate the full breadth of Cybeats' software solutions into their customers' environments. The partner program provides market-leading solutions and services to get partners up and running straight away, with minimal impact to their existing business. Cybeats SBOM Studio SBOM Studio provides organizations with the capability to efficiently manage SBOM and software vulnerabilities, and provides proactive mitigation of risks to their software supply chain. Key product features include robust software supply chain intelligence, universal SBOM document management and repository, continuous vulnerability, threat insights, precise risk management, open source software license infringement and utilization, and secure SBOM exchange with regulatory authorities, customers and vendors, at reduced cost. About Cybeats Cybeats is a leading software supply chain intelligence technology provider, helping organizations manage risk, meet compliance and secure software from procurement, development through operation. Our platform provides customers with deep visibility and universal transparency into their software supply chain, as a result enables them to increase operational efficiencies and revenue. Cybeats. Software Made Certain.

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