As more devices get plugged into the Internet of Things (IoT), more vulnerabilities for data breaches emerge. These weaknesses in the IoT infrastructure come at a weighty cost not only for organizations, but individual consumers as well.
The Internet of Things promises to revolutionize the payments industry. Consumers are ready for IoT payments. The Secure Technology Alliance is ready to take the lead. We’ve created IoT Payments 2017, the one conference bringing together financial executives, device and application providers, and retail experts for a detailed look into the evolving intersection of payments and IoT.
Several years ago, bed bugs in the fanciest of New York City hotels put thousands of travelers on edge. Pest services made a lot of money, as did retailers who sold bedding products. Bugs are back, but instead of infecting mattresses and pillowcases, they’ve worked their way into devices that are part of the Internet of Things. Many of today’s Internet of Things (IoT) of those connected devices, from connected crock-pots to refrigerators, are riddled with security flaws, leaving them vulnerable to attacks, according to research by Scott Tenaglia and Joe Tanen from Invincea Labs in Virginia
A cascading string of distributed denial-of-service (DDoS) attacks—most recently taking down parts of hundreds of sites including Twitter, Netflix, Spotify, Airbnb, Reddit and The New York Times—has demonstrated record-breaking volumes that are overwhelming website defenses. The four-fold growth in attack size over the last year is being driven by hundreds of thousands of internet-connected devices hackers are adding to their botnets, according to industry sources.
The security and privacy of IoT-enabled devices is a popular topic amongst connected car manufacturers, smart home developers and connected wearables. But as seemingly harmless things like Barbie dolls, stuffed animals and toy droids become connected to the IoT (and they are), what measures are being taken to ensure the security and privacy of those devices, if any? And is security a concern for something so ordinary?