The rise of Internet of Things (IoT) devices has revolutionized industries by boosting efficiency and innovation, but it also brings serious security challenges.
A staggering 95% of companies now rely on IoT devices, and over half of these have reported major security incidents such as data breaches or system failures.
These threats, particularly in critical sectors like energy and healthcare, make it essential for businesses to modernise their mobile security strategies.
Mobile and IoT Devices: A New Security Frontier
According to the Verizon Mobile Security Index (MSI), 80% of organisations view mobile devices as crucial to their operations, and 96% of critical infrastructure companies actively deploy IoT devices.
However, with this rapid adoption comes an increase in security risks. The SolarWinds breach of 2020, where malicious code infiltrated the supply chain, exposed the vulnerabilities even large corporations face.
Such incidents underscore the urgent need for enhanced security measures across mobile and IoT devices to prevent similar attacks.
Current Challenges in IoT and Mobile Security
Many organizations still rely on outdated security practices. Almost a third of those surveyed lack comprehensive monitoring of their IoT devices, while 46% of critical infrastructure companies continue to depend on manual audits to verify encryption.
These traditional methods are inadequate in the face of sophisticated cyber threats, highlighting the need for businesses to adopt modern security strategies.
Companies are aware of these vulnerabilities, and 89% are planning to increase investment in mobile security solutions.
As the use of IoT devices grows, organisations must focus on implementing comprehensive security frameworks, such as Zero Trust and the NIST Cybersecurity Framework (CSF) 2.0, which aim to secure data and networks by verifying all connections and limiting access.
The Growing Threat of AI-Supported Cyberattacks
AI-based attacks, including deepfakes and SMS phishing, are rapidly emerging as significant threats.
The MSI reveals that 77% of security professionals expect such attacks to become increasingly successful, while 88% of critical infrastructure companies recognise the need for AI-driven cybersecurity solutions.
These attacks are not just limited to large corporations but affect public and private sectors alike, further complicating the cybersecurity landscape.
In response to these growing threats, businesses must invest in technologies that can detect and prevent AI-assisted attacks.
Additionally, educating employees on the risks of credential theft and the importance of maintaining basic cybersecurity practices is crucial to defending against these sophisticated threats.
Securing Critical Infrastructure and IIoT
With the rise of the Industrial Internet of Things (IIoT), securing critical infrastructure has become more challenging. IIoT devices, such as sensors used in manufacturing and smart cities, add another layer of complexity to cybersecurity.
Businesses need to secure both traditional IT systems and these specialised devices, which often have unique security requirements.
The expansion of cybersecurity laws, such as Singapore’s recent amendment to its Cybersecurity Act, is a sign of the growing global recognition of these challenges.
The Act now covers not only critical infrastructure but also foundational digital infrastructure (FDI) providers, including systems located overseas.
This shift reflects the growing importance of third-party tech providers in supporting critical services like healthcare and energy.
A Call for Action: Modernise Mobile Security Now
The shift to remote and hybrid work, accelerated by the pandemic, has led to an increased reliance on mobile devices. Yet, mobile security remains a blind spot for many organisations.
Historically, businesses focused on securing on-premise networks and cloud infrastructure, neglecting mobile devices. However, as smartphones, laptops, and IoT devices become integral to operations, they have become attractive targets for cybercriminals.
To combat these threats, businesses must enforce consistent standards for mobile security, network segmentation, and data encryption. Companies also need to prioritize employee education on security hygiene, promoting a culture of awareness and caution.