Over the last 18 months, Spain has been the largest victim of IOT crime followed by Brazil and China. Whilst DDoS attacks are still carried out as the most common attack method, hackers have become more advanced in infiltrating networks using Thingbots to launch attacks on Internet of Things devices on mass.
There are over 8 billion IOT devices which were originally built on convenience rather than with security in mind, and because there was a lack of regulation in the beginning. This means that there is now a mammoth task ahead to prevent IOT products old and new from being compromised.
How the UK is protecting IOT devices
Here in the UK, the Department for Digital, Culture, Media and Sport, in conjunction with the National Cyber Security Centre have developed a Code of Practice for Consumer IoT Security (CODE). The CODE sets out to address some of the safety and risk issues around IOT devices and prevent further unsecure products from being produced in the future.
By working closely with manufacturers and security stakeholders, the CODE outlines 13 guidelines that offer practical steps and requirements, aimed at tackling the supply chain and ensuring that each key stage of production from manufacture to consumer use is aware of its own responsibility so that they understand their accountability.
If you are manufacturer of IOT devices then Crendon Insurance Ltd would like to hear from you. We provide IOT insurance to businesses who specialise in the production of IOT devices. To find out how we protect your companies in terms of IT technology and cyber security insurance please contact us or see our IOT security insurance website page for more details.
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