Uncovering the potential of the Internet of Things (IoT)

How the right cybersecurity and privacy safeguards can help businesses realize the promises of the IoT

Until recently, a cybersecurity exploit leveraging the Internet of Things (IoT) was a mostly theoretical concept. That changed after several incidents. Cybersecurity for the IoT had quickly escalated from an esoteric information security discipline to mainstream news. Suddenly, IoT security and privacy had become a new business priority.

Risks of future compromises will very likely increase as connected devices proliferate. In 2015, it was estimated that there were 15.5 million connected devices in Russia and this is expected to double by 2018. In the medium term this is expected to increase to 400 million devices. That is 400 million digital endpoints that could be targeted and breached giving cyber-criminals potential access to sensitive systems and/or data or hijacking those connected devices to perform DDoS attacks. Therefore as Russian companies look to embrace IoT technologies, they must hand-in-hand think about the supporting security and privacy strategy and infrastructure that needs to be established too.

Approximately one-quarter of global respondents to The Global State of Information Security® Survey 2017 report exploits of IoT components like operational technologies (OT), embedded systems and consumer devices.

As the IoT moves toward the core of digital business, the integration of security domains — IT, OT and consumer technologies — will likely introduce game-changing hazards. These potential risks include disruption in the information flow among connected devices, physical interference with equipment, impacts on business operations, theft of sensitive information, compromise of personal data, damage to critical infrastructure and even loss of human life.

Those companies that take proactive steps to implement an integrated IoT cybersecurity and privacy program will be better prepared to manage inevitable future risks and create new products and services that can transform business models. This publication is a look at how organizations are taking steps to secure the IoT and prepare for future opportunities. 

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Tim Clough
Partner, Risk Assurance Leader
Tel: +7 (495) 967 6018
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Roman Chaplygin
Director, Risk Assurance, Cyber Security
Tel: +7 (495) 967-6056
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