With over 6.4 billion devices connected worldwide, no industry is safe from a cybersecurity attack.
IoT devices are projected to impact the global economy from $4 trillion to $11 trillion. However, hackers are scanning for vulnerabilities as technology continues to grow and demand for IoT rises, which poses a problem. Data breaches in the technology industry are not unheard of. Gameover Zeus, a peer-to-peer botnet made for banking fraud and distributing ransomware globally, was temporarily shut down by the US Department of Justice in 2014. However, with variant trojans in the wild among other forms of malware, no device can truly be safe.
In fact, even our cultural entertainment has reflected this concern; autonomous cars hacked to form a pileup on the streets, a submarine hacked to deploy heat-seeking missiles, or facial recognition software used to target government officials. Whether it is your computer, product, or office, it is necessary to protect data. Since IoT security is so complex, it is best to adopt a security-by design approach. Security failures are more likely to occur at the design level, and “adding-on” security features can become more expensive and more prone to error.
Start the concept and design with security in mind. Authentication tools, software packages, and extensive testing are the first steps to success. This is why the US federal sector is encouraging regulation of IT products through the completion of FIPS 140-2, Common Criteria, and DoD’s APL certifications. This ensures value in their $41 billion invested in contracts, grants, and other financial assistance to IT companies.
These certifications help companies break into the healthcare, financial services, critical infrastructure, and national and international markets. They are necessary to foster public trust and reap rewards for security investments. Not only do they make products and services secure, but a certification can enable you to overcome competitors in a market valued at over $3.5 trillion.
IoT security is the future; contact Corsec today to learn more about your IoT security solution.
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