Securing IoT – A Comprehensive Guide for Business Owners

Securing IoT persists as an afterthought despite privacy and security being major concerns of this technology. That’s because businesses seek to reap the benefits of IoT development as fast as possible. However, skipping this step comes with many (and quite costly) consequences.

What is IoT Security?

Internet of things (IoT) security is the process of securing internet-connected objects and devices to prevent introducing threats into a network.

According to TechTarget, the term also covers the technology responsible for protecting devices and networks in IoT. In fact, as technology evolves and interacts with the internet, the term has expanded beyond IoT. As a result, methodologies such as API security fall under methods for securing IoT.

The goal of IoT security measures, practices, and tech is to –

• Prevent Unauthorized Data Collection – IoT devices collect enormous amounts of data and can even store and share it. Securing IoT ensures that this data is protected according to compliance regulations.
• Shut Backdoor Entries – Cybercriminals can take over via a single unprotected IoT device and launch a full-fledged cyber-attack. Not only can this harm your brand, but it’ll put your organization in trouble with data protection regulators.
• Mitigate Privacy Threats – By not securing IoT devices, there’s a constant threat to your privacy and that of your clients. You may also be penalized for non-compliance with regulations such as the EU’s GDPR.
• Reinforce Security Policies – Having a ‘one size fits all’ IT security policy is almost impossible. Especially with the rise of hybrid work models and employees accessing work data using personal devices. Therefore, IoT security is vital for comprehensive data security and privacy.

Types of Attacks IoT Devices are Susceptible To

There are a number of IoT security issues you may want to beware of. These are easily grouped into four categories:

1. Firmware Vulnerability Exploits – Firmware, i.e. the software used for operating the hardware, may lack the sophisticated security measures found in the operating systems for computers. These vulnerabilities may not be patched quickly enough or at all. This leaves IoT devices an easy target.
2. Credential-based Attacks – Attackers can use default admin usernames and passwords to their advantage. Especially since certain devices don’t allow credentials to be reset. Moreover, using simple passwords makes it easy for hackers to guess credentials.
3. On-path Attacks – An on-path attack takes place when someone intercepts the communications between two IoT devices. This type of attack is quite common as many IoT devices don’t encrypt their communications. 
4. Hardware-based Attacks – The most common reason for securing IoT is physical attacks. As IoT devices are placed in public areas, attackers may have physical access to them. While they can affect one device at a time, they can easily compromise others on the network using the previous three types of attacks.

Why Do IoT Devices Pose a Cybersecurity Risk?

For a cybercriminal, IoT devices are the perfect entry point into a network. Moreover, considering their widespread use, they offer a larger attack surface (i.e. more points for a breach to happen).

In a rush to reap the benefits of IoT, securing IoT devices may have a lower priority (if any) at most organizations. Regular scans may also be disruptive, if not dangerous considering how devices malfunction and result in data loss.

Even when managed, the devices may have exploitable vulnerabilities. Such is the case of D-Link routers. In 2023, these devices experienced exploits which impacted around 37% of organizations weekly.

Other aspects that make IoT devices vulnerable are their inability to produce logs, tendency to be outdated faster, and limited integration with traditional security tools.

How to Incorporate Cybersecurity into Your IoT Plan

If you wish to maximize IoT cybersecurity, you’re on the right page. Below are important steps you can take to get this done.

Ensure Good Encryption Measures Across the IoT Ecosystem

Cybercriminals can easily crack unencrypted IoT devices to take control of devices or use them as entry points into a network. This, in turn, puts devices as well as the data they generate and transmit at risk.

Several effective encryption methods to use include –

• Symmetric encryption, which works best for IoT devices with limited resources yet need to communicate fast and often (e.g. AES and RC4)
• Asymmetric encryption, a more flexible and secure version of the above that supports authentication, integrity, and non-repudiation (e.g. RSA and DSA)
• Hybrid encryption for delivering the benefits of both symmetric and asymmetric encryption methods (e.g. TLS and MQTT)
• Homomorphic encryption, which is a method for sending and receiving encrypted data without compromising its privacy (e.g. BGV and CKKS)

You should also consider being up to date with encryption methods like quantum encryption. This futuristic method is currently in experimental stages and theoretically unbreakable.

Avoid Weak Passwords and Devices Using Default Accounts  

Hackers can easily gain control of IoT devices with weak passwords and cause data breaches and privacy violations. Therefore, your policy for securing IoT devices should include steps to ensure strong, unique passwords.

Equally important is vetting devices to ensure they don’t come with default user or super user accounts. The default passwords of these devices tend to be widely known, making it easy for attackers to gain unauthorized access. So, either avoid these or make sure to change default settings instantly.

Educate Your Workforce on IoT and Cybersecurity

All your efforts to secure IoT devices will go to waste due to employees’ lack of awareness. Therefore, they need to be fully aware of network best practices and IoT device security. Employees should also learn how to address potential issues to prevent further access into the network.

In addition to protecting your assets and sensitive data, training the workforce makes it involved in the security process. This, in turn, motivates it to be aware and vigilant throughout.

Be Proactive, Not Just Reactive, While Securing IoT

The best method for securing IoT is preventing hackers from getting through in the first place. There are some best practices that can help you pull this off, including –

• Segmenting networks into smaller, isolated segments to minimize the impact of potential breaches
• Implementing firewalls and access control methods to limit communications between devices and other nodes in the network
• Utilizing strong authentication mechanisms such as multi-factor authentication
• Using secure APIs to prevent unauthorized access and other security vulnerabilities
• Leveraging the latest security protocols and tech to protect IoT data storage

Schedule Regular Patching and Updates Company-wide

You need to have an efficient patch management process to regularly update IoT software and prevent hackers from exploiting vulnerabilities. This is especially important as most applications are built using open-source software.

As tedious as the process may seem, you can use remote management and monitoring software. These solutions can schedule and push updates automatically.

If Unused, Get Rid of Your IoT Devices Properly

You can’t leave an unused IoT device as part of your environment. Especially when not maintained, it can be a security risk and the first target of attackers. So, make sure to remove it before someone exploits it.

Just remember to follow these steps to properly dispose of your IoT devices –

1. Erase all personal data by performing a factory reset.
2. Unlink and delete associated accounts and cloud services.
3. If possible, wipe any onboard storage to complete erase all data.
4. Take the device to an electronic recycling facility that handles e-waste responsibly.
5. Follow local regulations for electronic waste disposal.

Want to Ensure the Security of Your IoT Environment?

DPL can help. By creating IoT solutions for your business, our experts will handle every aspect of security IoT – from hardware to software. Let’s discuss your next winning IoT idea and plan its future security right away.

Connect with us via the team below and let’s start innovating.