Securing the Internet of Things (IoT) Networks: Challenges and Solutions

Any device that has Internet connectivity faces the vulnerability of being misused or hacked. In the time of IoT or the Internet of Things, there are countless connected devices that anyone can use to access private data, spread malware, or lead to significant harm.

Reportedly, the global market size of IoT security was estimated in 2022 at $11.7 billion. It is forecasted to reach $122.3 billion by 2031 at a growth rate of 29.8% between 2023 and 2031. While businesses, government agencies, and consumers are using and relying on the evolving number of IoT applications, IoT security continues to be an important consideration for end users and manufacturers. Here, managing third party risk is needed whenever third and fourth parties use the IoT devices.

Today, we will examine the major challenges and solutions that can help secure IoT networks.

What Is IoT Security?

IoT security is a broad term that primarily covers the main instruments, strategies, processes, techniques, and systems employed to safeguard the different elements of the Internet of Things. To ensure the integrity, availability, and confidentiality of the IoT ecosystems, applications, physical elements, data, and network connections should be safeguarded.

The IoT systems might comprise a huge number of security errors. A good security strategy will cover different defense aspects involving hardening components, tracking, updating firmware, gaining access, threat detection, and patching up the risks.

IoT security is a must since these systems are susceptible, broader, and the main target for attacks. It is essential to protect IoT devices against any unauthorized access to prevent leaks of confidential data and unauthorized entry into different aspects of the network.

IoT Security Challenges

The following is the list of the major IoT security challenges that can place any user at a greater risk of a potential data breach.

Lack of Physical Security

Attackers can easily access IoT devices due to their lack of physical security. They can seamlessly access IoT devices placed across remote areas for a longer duration to make any physical changes. IoT security challenges over devices with less to no physical security are easily attacked.

For instance, IoT devices get infected through USB flash drives that consist of malware. It is the main responsibility of the manufacturers of these devices to emphasize more towards the device's physical security, which involves proper third party risk management to be in place when there are external parties involved in your business process.

Lack of Visibility

It is an intricate task for the IT teams to get the best visibility of different devices present in the network since numerous devices are hardly registered under the IT inventory record. Devices like air conditioning systems, ventilation, and coffee machines are not prioritized getting tracked by the IT teams.

Security teams can hardly prevent breaches if they are unable to locate whatever is connected to the network. The lack of visibility of IoT devices makes it tougher for IT departments to get a precise record of what needs proper monitoring and protection.

Data Privacy

Within the IoT space, data privacy is a severe security issue. User information gets shared across numerous devices, such as personal data from smart toys and wearables and patient data from health equipment. For instance, any cyber attacker or hacker can start collecting corporate data by exposing it, selling it, and using it to extort the owner.

Botnet Attacks

The other IoT security challenges are linked to IoT devices. Due to the lack of security issues within IoT devices, they can easily be infected through botnet machines. A Botnet is mainly a collection of machines infected by malware. Attackers use these infected machines, sending thousands of requests each second to destroy the target.

Like regular computers, IoT devices lack standard security updates, making them prone to malware attacks. As a result, they are converted into infected Botnets that attackers use to send massive traffic requests.

Ransomware

Attacks related to ransomware will lead to encryption and blocking access to the key files. The hacker issues a ransom payment for unlocking the systems or decrypting the key. IoT devices with weaker security become the main targets of ransomware. However, cases dealing with ransomware attacks are not found these days.

However, smart homes, healthcare gadgets, and other smart applications are at risk in the future due to their growing value to the owners and greater reliance on the devices as mission-based systems.

IoT Security Best Practices

It is essential to pay a lot of attention to the solutions that can help you overcome the challenges related to the IoT network.

Using IoT Security Analytics

Security analytics can significantly minimize the risks and issues with IoT security. Security analysis involves data collected through numerous sources, which is analyzed and collected to help security teams identify and prevent possible threats.

To discover malicious anomalies present in network traffic, the security analysis is performed using data from varied domains that are compared. The outcomes derived from the correlation of data flow enable the security teams to rectify the anomalies and prevent them from impacting any connected devices.

Increase Network Visibility

The major IoT security challenge involving the lack of visibility of IoT devices is using dedicated visibility tools by the IT teams, including NAC or network access control. These tools offer a complete inventory of every device staying connected to the network.

Whenever a new device's connection is established, the NAC technology updates the inventory and verifies it automatically every month. Monitoring IoT devices assists companies in responding to security threats and taking necessary security compliance measures.

Endpoint Detection and Response (EDR)

Due to the constant streaming of data, a few are lost. It takes place for not being under the control of IoT devices. EDR technology resolves this issue by identifying real-time attacks and avoiding any loss of data. Using EDR, the security teams can instantly identify malicious activities and gain direct access to these devices with real-time alerting and visibility.

The other essential feature of EDR is its ability to detect and prevent any suspicious real-time activity. The EDR solutions use threat intelligence for detecting suspicious activity at the endpoint of IoT and responding quickly even if the human security teams are not able to respond promptly to this event.

Secure APIs

APIs are extremely fragile links across several security strategies. The IoT devices rely on the APIs for recovering data from different systems and then sharing this collected data. Companies can ensure that the hackers do not gain any access to the IoT devices through ill-configured or unauthenticated API with the implementation of the best practices for API security and conducting constant security tests.

Encrypted Communication

Gaining access to IoT devices helps attackers compromise IoT communication. Data breaches are prevented through the encryption of communication between IoT interfaces and devices like mobile apps and web apps. The commonly known encryption protocol for data transfer uses SSL or TLS.

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