The Growing Cybersecurity Challenge of IoT
The Internet of Things (IoT) is transforming industries at an unprecedented scale. According to Forescout, by 2028, connected IoT devices will surpass 25 billion. While these devices enhance efficiency, they also dramatically expand the attack surface, creating new security challenges.
From healthcare and manufacturing to smart buildings and power grids, connected devices are integral to operations. However, as we have discussed before—particularly regarding the casino and gaming industry—BYOD (Bring Your Own Device) policies combined with IoT adoption have led to significant cybersecurity risks.
The pressing question remains: Which IoT devices pose the greatest risk?
The Most Vulnerable Connected Devices in 2024
New vulnerabilities in IoT devices surged by 136% in 2024 compared to 2023. Cybercriminals are increasingly targeting enterprise-connected IoT devices rather than just consumer smart gadgets. The following devices are among the riskiest:
- IP Cameras – Exploited for surveillance breaches and network access.
- VoIP Systems – A target for call interception and data theft.
- Wireless Access Points – A gateway for lateral movement within networks.
- Routers – A high-priority target for botnet formation and data interception.
- Printers – Often overlooked, yet commonly exploited for sensitive data access.
According to Infosecurity Magazine, cybercriminals are particularly focused on IoT devices connected to enterprise systems, such as building management platforms. A compromised IoT device can lead to large-scale data breaches and operational disruptions.
The Industry’s Response to IoT Security Risks
There is growing pressure on IoT manufacturers to take responsibility for device security. Many cybersecurity experts argue that vulnerabilities stem from inadequate security measures during the development and manufacturing process. In the rush to bring products to market, many companies bypass proper security testing—leaving customers and businesses exposed.
Several initiatives aim to address these concerns:
- UK’s Product Security and Telecommunications Infrastructure Act (April 2024) – Strengthens security standards with minimum-security requirements for consumer IoT devices.
- NIST’s IoT Cybersecurity Program (2016) – Enhances IoT security through best practices and deployment guidelines.
- EU Cyber Resilience Act – Establishes security obligations across the entire product lifecycle.
While these are steps in the right direction, no global standardized regulation currently enforces strict security protocols across the IoT industry. Without financial consequences, many manufacturers prioritize speed to market over security.
What Businesses Should Do Next
With IoT security remaining inconsistent, businesses must take proactive steps to protect their connected environments. IT and cybersecurity leaders should:
✅ Conduct rigorous security testing on all IoT devices before integrating them into networks.
✅ Implement strict security policies for IoT and BYOD devices to minimize exposure.
✅ Monitor evolving IoT security standards and frameworks to ensure compliance.
✅ Prioritize network segmentation to limit potential attack pathways.
Until regulations force stronger security measures across IoT manufacturers, the burden falls on businesses to proactively secure their connected ecosystems.
Are your IoT security policies strong enough? Contact Saturn Partners for a cybersecurity assessment to ensure your organization stays ahead of emerging threats.