How IoT Impacts Cybersecurity and 7 Ways to Protect Your Business

The Internet of Things (IoT) opens up endless possibilities for tech — both the good and the bad. 

IoT devices have improved productivity, reduced home energy spending, and basically made lives easier. But they’ve also opened the backdoor for hackers and cybercriminals. 

You might be thinking, "What could they possibly get from hacking my toaster?" 

But no one’s laughing when hackers breach your corporate networks and retrieve a handful of sensitive information. 

IoT throughout the years 

The IoT began in the early 1980s when a group of Carnegie Mellon University graduates connected a Coke vending machine to their local Ethernet. This allowed them to know if the machine was stocked or if the Coke bottles were already cold. 

Today, billions of things are connected to the internet — from watches, switches, thermostats, and even coffee makers. Soon, we’re looking into IoT vehicles, infotainment systems, automated teller machines, and medical devices. 

A threat to cybersecurity 

When it comes to cybersecurity, one can never be too careful. 

In fact, just recently, an Australian IoT provider and cloud solutions company was breached, exposing at least one form of ID of a total of 2.1 million customers.  

This should concern SMEs and IT companies as they pick up on the bring-your-own-device (BYOD) trend. No matter how secure your system is, hackers will find every possible entry point to breach it. 

You’ll never know the extent of a cyberattack until it happens to you. Don’t risk your business. Learn these five ways to protect your online assets in this IoT world. 

7 Tips to Improve Your Business's Online Security 

Secure your devices with a VPN  

One way of mitigating cybersecurity risks is to use a virtual private network (VPN) on your IoT devices. 

A VPN-connected device encrypts all traffic running to and from it. Even if hackers intercepted this traffic, they wouldn’t be able to interpret it. This keeps cybercriminals from launching targeted attacks, such as distributed denial of service (DDoS). 

This is also what a Secure Sockets Layer (SSL) certificate, or HTTPS, does. It encrypts traffic and makes it unreadable to a third party. Make sure to secure an SSL for your website — especially if it contains sensitive data about you or your customers and clients. 

It’s basically impractical to install a VPN on every desktop and mobile device in an office network. A solution to this is using a VPN router, which automatically protects every device it’s connected to. 

For BYOD policies, make sure employees install native VPN apps to protect their devices even outside the office. 

Update passwords regularly  

Toyota reportedly exposed credentials that allowed access to customer data, leading to a security breach. The security breach was due to two things: first, negligence; and second, a lack of updates in their security system. 

Toyota reported that a subcontractor "uploaded part of the source code to their GitHub account while it was set to be public" last year. The source code had been exposed for nearly five years between December 2017 and September 15, 2022. If their security details were constantly updated, the case would have been prevented.  

The UK-Singapore IoT security pledge also brought up this major concern. In their goal to improve the security of smart consumer products, they recommend manufacturers avoid common security shortcomings. 

Protect your devices against cybercriminals. Here are some tips to create a strong password: 

• Don’t use easy passwords like 123456 or password. 
• Make it a mix of special and alpha-numeric characters  
• Make it longer than 15 characters. 
• Avoid "leetspeak" substitutions like p4$$w0rd or d00Rb3ll. 
• Put in bizarre and unique words, such as local businesses, foreign words, etc. 

• Use reliable online tools, such as a password generator and a password manager. 

Use a multi-factor verification system  

Skilled hackers can still crack the strongest of passwords. 

This is why a multi-factor login is essential for any IoT device. 

Add a second layer of protection to your assets by implementing two-factor authentication (2FA). There are different types to consider, including: 

• A text message code —: the most common two-factor authentication method is also the least secure. SMS messages aren’t encrypted, so hackers can easily steal them. 
• An authenticator app code — The code is sent through a mobile app, such as Authy, Google Authenticator, and the likes. An HTTPS connection protects the code, so you don't have to worry about hackers snooping in. Just make sure your device is free from malware. 
• A biometric — This login form is common in enterprise settings. Specialised hardware takes a scan of your fingerprint, iris, or face. Although more advanced, hackers can still spoof it through 3D printing technologies. 
• A physical key — Security keys are the strongest 2FA method. Since only legitimate sites support them, they keep phishing attempts at bay. Even Google finds it reliable. 
• To amp up your cybersecurity measures, you can implement multiple layers together for three-factor authentication. This further minimises the attackable cyberspace — requiring the device, user, and application to authenticate the login. 

Use effective mobile device management  

Gone are the days when only desktop computers connect to a corporate network. Today, mobility is the norm, especially among digital enterprises. 

Mobile devices, such as smartphones and laptops, make it easier to carry out work. 

For instance, web development agencies need them to test a website’s responsiveness to mobile devices. Plus, these agencies may be implementing BYOD — which further puts cybersecurity at risk. 

The challenge falls to IT managers: How do you manage these devices with minimal security risk? 

The solution is a good mobile device management (MDM) program. For a programme to succeed, you’ll need reliable MDM software. This should benefit your business in many ways:  

• Reduce IT administration  
• Improve end-user productivity  
• Reduce IT risks by streamlining cybersecurity measures  
• Minimise mobile device spending as it helps optimise unused devices  

There are several recommended MDM software products on the market, such as Cisco Meraki, Jamf, and IBM MaaS360. 

READ: How to Implement a Robust MDM Policy for Your Digital Firm 

Educate employees about cybersecurity  

Many corporate leaders are aware of the importance of cybersecurity. But not all of them are actually practising it in their businesses. 

The truth is, good cyber hygiene is not just one department’s concern but the entire organisation’s.  

All of your employees need to know the security threats they’re likely to face in the future. This includes how they work, how to identify them, and how to carry out the next steps upon getting them. 

Here are some basic guidelines you can teach your staff: 

• Don’t act on a certain email — like clicking on a link or providing information — if you’re unsure of its sender. 

• Don’t give out sensitive information over the phone. 
• Be conscious of what’s asked of a suspicious request, such as account credentials or personal information. These aren’t usually disclosed in blatant methods. 
• Enhance cybersecurity training by testing your employees. Conduct a simulation of a phishing attempt or a DDoS attack and see how they respond. This brings your staff one step ahead of the real risks out there.  

Fortify your servers with additional protections  

Servers play a very crucial role for a company. It’s where almost all of a business's important data is found. A compromised server is a very big problem, not only for you but also, for your clients’ security, and could result in major losses. 

Investing in secure premium servers ensures your business’s safety and builds confidence among your customers. If you don’t know how to get started, partnering with your web hosting provider is the best place to begin. 

Create a secure backup storage for your data  

Cyberhackers and malicious entities have the power to do anything to your data once they gain access to your files. Hackers can wipe out everything you have stored on your server in an instant, damaging your company’s workflow and costing you millions — if not billions. 

In the worst-case scenario, a cyberattack can destroy your entire business. Prevent this by investing in a secure backup plan to keep your business and your client’s data safe. 

Protect Your Business from Cyberattacks  

Most people think a cyberattack won’t happen to them. When you’ve got clients and customers relying on you, you can’t afford to make that mistake. IoT can take your business to greater heights — but only if you put the right cybersecurity measures in place. 

Make sure to invest in a secure hosting provider that won’t compromise your business. Protect yourself and your clients from potential attacks.