Securing the Internet of Things (IoT): What Businesses Need to Know

The Internet of Things (IoT) has revolutionized business operations, enhancing automation, operational efficiency, and real-time data collection. And for our long-term readers, hopefully this is a familiar trope as we try to hammer this idea home, “However, increased connectivity also introduces new vulnerabilities.” As businesses increasingly rely on IoT devices, understanding and mitigating associated risks becomes paramount.

Understanding the Risks: Real-World Examples

Far too often, cybersecurity firms are accused of fearmongering, but just because you’re paranoid, doesn’t mean they’re not watching. Unfortunately, IoT has proved time and time again to be a low hanging fruit for cybercriminals.

1. Ring Security Camera Breach

In 2019, hackers accessed Ring security cameras, enabling them to spy on households and communicate with residents. These breaches were largely due to weak or reused passwords and the absence of two-factor authentication. Wikipedia

2. Mirai Botnet Attack

The 2016 Mirai botnet attack exploited unsecured IoT devices, such as cameras and routers, to launch a massive DDoS attack, disrupting major websites like Twitter and Netflix. Wikipedia

3. Wyze Camera Exposure

In 2024, a glitch allowed approximately 13,000 Wyze camera users to access live feeds from other customers' homes, highlighting the risks of software vulnerabilities in IoT devices. Business Insider

Actionable Tips for Securing IoT Devices

Movaci encounters some customers who consider certain IoT devices as “low priority” leaving their network exposed by inadequate cybersecurity practices. Fortunately, by implementing and encouraging good due diligence practices, businesses can be confident that the IoT they implement won’t lead to data loss, financial repercussions, or permanent reputational damage.

1. Maintain an Up-to-Date Inventory

You need to be able to see... Regularly audit all IoT devices connected to your network. Use automated tools to detect unauthorized devices and ensure firmware is current.

Just as a librarian keeps track of every book to prevent loss, businesses should monitor all IoT devices to prevent unauthorized access.

2. Implement Strong Authentication

Don’t be complacent, no device is too small… Replace and securely document all default passwords with strong, unique ones. Enable two-factor authentication wherever possible to add an extra layer of security.

Think of passwords as keys; using a unique key for each lock ensures that if one is lost, others remain secure.

3. Segment Your Network

Protect mission critical systems and data… Isolate IoT devices on a separate network segment or VLAN to prevent potential breaches from affecting critical systems.

Like having separate compartments in a ship to prevent flooding, segmenting networks ensures that a breach in one area doesn't sink the entire system.

4. Regularly Update Firmware

Ensure all IoT devices receive timely firmware updates to patch known vulnerabilities. Don’t rely blindly on automated security methods… Establish a routine schedule for auditing automated patching systems and apply missing updates.

You wouldn’t leave your back door open at 3AM on a Friday night, so don’t do the same with technology that has 24/7 access to your physical location.

5. Limit Data Collection

Ask yourself, why does it need to see my photos? Configure devices to collect only necessary data. Regularly review data logs and privacy settings to monitor for unusual activity.

If a wedding photographer asked to see all the locations you frequently visited, would you say yes?

6. Choose Wisely

Do they practice what they preach? Research and, whenever possible, purchase IoT devices from manufacturers with a proven track record of taking cybersecurity and data privacy seriously.

Past behaviour can indicate future outcomes.

Conclusion

Securing IoT devices is not a one-time task but an ongoing process that requires vigilance and proactive measures. By understanding real-world incidents and implementing the above strategies, businesses can significantly reduce their risk exposure.

At Movaci, we specialize in helping businesses navigate the complexities of IoT security. If you need assistance in assessing or enhancing your IoT security posture, contact us today.