Inadequate security sees surge in IoT data breaches, study shows

A study published by Ponemon shows that the number of breaches due to unsecured connected devices now accounts for 26% of security incidents, up from the previous figure of 15%.

However, actual numbers of breaches may be far greater as organisations are often not fully aware of how many web-connected devices their employees and teams are using.

Lack of clarity over application or third-party platform usage could be pushing the number of cyber-security incidents on connected devices even higher, according to the Ponemon’s report titled: “Third Annual Party IoT Risk: Companies Don’t Know What They Don’t Know”.

The study also discovered that budgets aren’t up to managing third-party risks coming through IoT gadgets.

Looking forward, 87% of the survey’s respondents said they thought their own companies are likely to suffer a cyber-attack due to poorly secured IoT devices or applications over the next two years.

The Ponemon report also highlighted a concerning accountability gap, as less than half of the companies’ board members said they gave the green light to projects designed to lower third-party risk. Just 21% of board members said they were “highly involved” in security practices and in understanding third-party and cyber dangers in a more general capacity.