Securing IoT devices is like the Wild West, untamed and lawless. However, IoT is spanning far beyond the West, creating a global network of vulnerable devices and data.
As IoT proliferation sweeps across the planet, businesses and consumers are benefiting greatly from the increased connectivity. However, this connectivity is also introducing greater security risks than ever before. These risks must be properly handled by manufacturers to prevent consumers from losing confidence in these devices.
If only it were that simple. Many manufacturers that understand the security risks of their devices still refuse to allocate budget to properly develop security protections, because it is seen as a cost they can’t recoup. Without monetary incentives for device manufacturers, there is nothing to motivate them to change their practices and design and build cybersecurity protections into their products. If the businesses they sell to don’t hold them accountable and consumers continue to purchase their products without necessary security features, what can ultimately convince manufactures to change their practices? The simple answer: Regulation.