Due to the massive amount of personal data collected by the Internet of things (IoT) is an attractive target for hackers. Hackers are always coming up with new ways to penetrate vulnerable networks, putting the entire ecosystem at risk. The following are the most significant risks and hazards associated with IoT and the critical vulnerabilities that must be protected with managed cyber security services.

What is the Internet of things precisely?

The Internet of things can connect the whole physical world via networked devices, software, sensors, and other 'things' (IoT). Corporate software, smart home appliances, care monitoring systems, mobile phones, and self-driving automobiles are all examples of technology that may be utilized to do this. Each of these objects is capable of conversing with others without the assistance of a person. While this web of interconnection is fascinating, it also poses a significant danger to critical information security.

Investigations are being conducted into the attack surface of Internet of things (IoT) devices. A company's attack surface is composed of all of its network's vulnerabilities, both physical and digital. Customers' endpoint devices (computers and tablets) and business-critical software and hardware might be hacked. Although the security software often secures each device, they are vulnerable because of their IoT connectivity (IoT). According to the Open Web Application Security Project (OWASP), web application security vulnerabilities fall into three broad categories, which we have detailed.

The Internet has evolved into something more than a collection of servers, routers, switches, laptops, tablets, and smartphones. Indeed, it is expected that the number of IoT gadgets will eventually outweigh traditional computer equipment. The Internet of things (IoT) is beneficial in various ways, including refrigerators that alert owners to the expiration date of their food and autos that broadcast information about their oil levels. However, as several recent breaches have demonstrated, the Internet of things (IoT) poses significant hazards that cannot be ignored. The following are some of the most hazardous Internet of things dangers.

Vulnerabilities in gadgets, memory systems, physical and online interfaces, network services, and firmware are unavoidable due to obsolete components and potentially dangerous default settings associated with update procedures. Continuous monitoring is crucial for safeguarding the devices on your network against vulnerabilities.

The communication channels of IoT devices are vulnerable to assaults launched from the networks that connect them. As a result, spoofing and Denial-of-Service (DoS) attacks against the system are feasible, posing a threat to the entire system. These threats and assaults lay the groundwork for a network surface that is susceptible.

Computer programs and applications are used without the right cyber security protocols in place

Numerous APIs and web applications fail to secure sensitive data adequately. Each program and piece of software poses a risk. This data might include everything from financial analyses to medical records. If a web application is not effectively secured or patched regularly, identity theft, credit card fraud, and the revelation of personal information are all possibilities.

Customers' lack of ability and comprehension

The average Internet user is aware of avoiding phishing emails, rejecting suspicious attachments, scanning their machine for viruses, and choosing a secure password. On the other hand, the Internet of things (IoT) is a relatively new concept that many IT professionals are unfamiliar with and under-informed on.

Due to their irresponsibility, users are far more dangerous driving IoT security vulnerabilities than manufacturers. Users' ignorance about IoT capabilities amplifies this. Deception is the most effective method of gaining unnoticed access to a restricted network. This may be accomplished through the use of IoT devices.

The process of developing Internet of things (IoT) devices is lengthy

Each day, manufacturers release an incredible number of IoT devices. Numerous of them include novel models and unanticipated problems. Manufacturer omissions cause the vast majority of security issues in IoT devices. Device manufacturers sometimes see Internet connectivity as a nice-to-have rather than a requirement. As a result, they do not invest as much time and money in cyber security to prevent cyber attacks and other threats as they should.

Specific Bluetooth fitness trackers, for example, remain visible after being connected for the first time. Certain smart refrigerators display credentials for Gmail. There is no such thing as a one-size-fits-all approach to securing IoT devices. On the other hand, this is not an excuse for creating insecure devices. The most prevalent IoT issues stemming from the manufacturing process include weak passwords, hazardous hardware, a lack of patching mechanisms, and unsecured data storage.

There is no hardening

For an extended period, physical hardening has been a source of worry for the Internet of things devices. Due to their remote deployment, IoT devices are constantly exposed to a more significant physical attack surface. There is no way to protect them completely. Attackers can get critical information about a network's capabilities by utilizing devices that lack a secure location or the capacity to be monitored continually. Hackers can facilitate memory card removal by accessing the card's data and using it to gain access to other systems.

Both the storage and transmission of private data are attachable

As more people adopt cloud-based communications and data storage, the interoperability of smart devices and the IoT network improves. Nonetheless, whenever data is sent, received, or stored across one of these networks, the chance of it being attacked or hacked increases. Put another way, the failure of the IoT ecosystem to encrypt and restrict data access is to a fault. As a result, network security management solutions such as firewalls and network access controls are critical for ensuring data security during transmission and storage.

Patching and upgrading software may be a difficult task

There will always be new vulnerabilities in IoT-enabled products, regardless of how carefully a manufacturer designs secure hardware and software. This means that IoT devices must be updated as soon as possible to be secure. Keeping up with IoT devices is not always straightforward, owing to their nature and intended use.

Protection is hit-or-miss in the real world

The Internet of things (IoT) should be self-sufficient. These devices may be left unattended in isolated regions for weeks or months at a time. They are vulnerable to theft and bodily harm because of their seclusion. A flash disk may contain viruses or may have been stolen. The attacker might use this to get access to sensitive information. If an IoT device's operation fails, the data it gathers and transmits may get corrupted.

Points of entrance into the environment that are not secure

A software mediator, referred to as an API, is required for two programs to communicate (application programming interface). Attackers may leverage APIs to access a business's IoT devices, compromising the router, web interface, server, and other network components. It is necessary to understand the unique characteristics and security regulations associated with each item in the ecosystem before interacting with them.

Managed security services, also referred to as outsourced security services, are gaining popularity among businesses of all sizes. Collaboration with an MSSP provides many benefits to a company's security department. The MSSP may take over daily monitoring and control your security environment, freeing up your staff to work on strategic security projects.

Increase profitability and network safety with managed cyber security services

A managed security services provider (MSSP) offers you a seasoned team of professionals that will work for you at a fraction of the cost of building your security staff. Purchasing all your security equipment and solutions at once may be too expensive. Are you still undecided?

• Manage system and software vulnerabilities, settings, and licensing for a salary of $70-105K.
• Licensing fees for hardware and software, as well as $75-105K for penetration testing
• Earnings for security engineers typically range between $70,000 and $110,000 per year.
• Costs associated with auditing and compliance, in addition to software license fees, range between $90,000 and $120,000.
• The project management cost is from $70-105K, not including software license.
• Between $100,000 and $150,000 is spent on management.
• Budget between $475,000 to $695,000, without including benefits, for single coverage on each chair.

When the expense of building your 24x7 SOC is included, the compensation totals $1.3 million. You're still on the lookout for a security unicorn to tie everything together, and the infrastructure required to house them adds another layer of complexity. If your payroll forecasts are inaccurate, you will incur additional employee attrition and retraining costs.

This is a considerably more plausible alternative in light of the growth of MSSPs and managed cyber security services. For instance, incident response and event investigation services can provide you with unmatched experience dealing with corporate security incidents. This safeguards the business against a wide variety of risks, ranging from a single system breach to a large-scale cyber attack launched by a trained hacker squad.

You can also rely on the incident response team of an MSSP to quickly examine your issue and recommend the best course of action based on digital forensics and hundreds of hours of crisis management knowledge.

In summary

As you can see, outsourcing your security operations to a managed cyber security services provider has several advantages, including lower costs, more efficiency, and a greater return on investment. Allow SSI to manage tactical threat hunting and monitoring activities while your security personnel focuses on strategic responsibilities. Our strategic arm can be beneficial in many circumstances.

Take the first step in arming your network to defend against risks and hazards associated with IoT. Request a proposal today.