Top IoT Security Threats in 2022

What is IoT?

The IoT is a vast network of electronic devices, software applications, and other objects that can connect to the internet and exchange data. Without realizing it, you’re probably already using IoT devices in your daily life. Many modern vehicles, for example, may link over the internet to your smartphone or smartwatch, allowing you to share playlists, position data, and other information between devices.

The Internet of Things (IoT) can connect smart gadgets at home, such as your thermostat, refrigerator, lights, and more, to make your home more efficient. You might see IoT products like smart locks, energy monitoring devices, and even smart scheduling devices in a professional setting.

Here are some key IoT security threats in 2022.

1. Unencrypted data storage

Throughout the day, IoT devices collect a massive amount of valuable data, much of which is stored in the cloud. Because this information can make these devices a target for hackers and other cybercriminals, it’s crucial that it’s kept safe. It’s also important that data is transferred between devices in a secure manner, preferably over an encrypted connection.

Unfortunately, many IoT devices lack reliable firewalls and other security features, leaving this data highly vulnerable. Data transfer between a smartphone and other devices is typically done over public WiFi networks, therefore securing a secure connection between devices might be difficult in some cases.

When data isn’t properly saved, you become vulnerable to infection. Malware can degrade the performance of your devices, and in the worst-case scenario, it might lock you out and keep your data for ransom.

2. Unsafe financial information

Some IoT devices have access to the financial information of their users. When these devices have access to sensitive information such as your credit card or banking account information, they become an easy target for hackers.

This is an especially concerning issue for financial institutions that deploy IoT devices in the workplace. As IoT and AI technology advances, you’ll be able to use these technologies to manage a variety of areas of your organization. However, if these gadgets have access to indiscreet financial information, it might put your company and your consumers at risk.

3. Access to physical property

Another major security concern is that IoT devices are frequently linked to physical property in some way. Many houses, companies, and automobiles, for example, now have IoT-connected locks and security systems. This means that if the gadget is hacked, someone could gain access to your physical belongings and potentially jeopardize your physical safety.

4. Weak passwords and ID verification

Protecting your gadgets requires a strong password. Many IoT devices, however, are not password protected. A number of users choose options that are relatively simple and easy to guess, even on password-protected devices. As a result, your IoT devices are highly exposed to hackers.

Many IoT devices use different forms of identity verification in addition to passwords. Many devices, for example, use biometric verification such as fingerprints or even facial recognition to verify identity. While this is more secure than simply using a password, it’s crucial that this identity verification data is maintained and managed safely.

5. Botnets and malicious IoT devices

The Internet of Things (IoT) lets electronic devices connect and communicate with one another, but not all of these devices are made with good intentions. Current IoT devices can be used by cybercriminals to break into secure networks.

Botnet attacks are particularly vulnerable to IoT devices. Botnets are computer networks that are used to distribute malware and execute harmful bots. Botnets can enter IoT networks and infect safe devices with ransomware, spyware, or other types of malware, jeopardizing your financial and personal security.

How To Secure Your IoT Devices

Although these security threats are ubiquitous for IoT devices, here are a few things you can do to secure them.

Regularly update your systems.

Security threats are rapidly evolving. To get over these security issues, developers must update these systems frequently. It’s crucial to install these updates on your IoT devices as soon as they’re available to avoid risks.

Opt for strong passwords.

Your IoT devices can be particularly vulnerable if you use a weak password. When creating passwords, use a combination of characters, numbers, and symbols that are tough to guess. Furthermore, you should replace your passwords on a regular basis – ideally every few months. If your IoT device supports two-factor authentication, make sure you’re taking use of it.

Be cautious when it comes to WiFi. Connecting your IoT devices to public WiFi networks is not a good idea because they are often insecure. You could also want to set up a guest network for your IoT devices at home, which will add an extra degree of protection.

Final Thoughts

Because the internet of things is still relatively new, at least in terms of consumer IoT devices, security measures are likely to increase as the technology matures. It’s critical to be aware of pertinent security concerns and take precautions to secure your networks before purchasing any new IoT device. While IoT devices are extremely useful, they can also be a huge target for hackers.