According to Gartner, there will be more than 20 billion IoT devices by 2020 and as many as 75 billion connected IoT devices by 2025. Unfortunately, the safety and integrity of these devices are still widely ignored, and there are more and more cases of them of being hacked and used as part of a botnet.
“Things that were once the plot for a science fiction movie, such as household appliances being hacked and turned against humanity, now became a reality. IoT hacking can be extremely effective, producing DDoS attacks that can cripple our infrastructure, systems, and way of life,“ says Daniel Markuson, the digital privacy expert at NordVPN. “If you have multiple devices connected to the same network in your home or office, and a hacker gets access to one device, they could break into all of them.”
According to NordVPN’s digital privacy expert, even though it’s hard to believe that a baby monitor or a seemingly simple toy can do significant harm, it’s no longer only computers or smartphones that are at risk of cyberattacks. Take a look at these crazy examples of IoT hacking and vulnerabilities recorded in history:
A thermometer in a lobby aquarium
It always seems that casinos are some of the most secure organizations in the world, but they can be hacked as well. A few years ago, a group of hackers used a rather unconventional method to break into a casino. They managed to access its network via an internet-connected thermometer in an aquarium and extract its high-roller database with all sensitive details.
Parents nightmare: hacked baby monitor
Baby monitors started as simple one-way radio transmitters and evolved into sophisticated Wi-Fi-enabled smart devices with cameras, infrared vision, and other features. However, as everything IoT, those devices can be hacked as well. Late last year, a family from the US experienced a real nightmare. A hacker got into the wireless camera system used to keep an eye on the baby and threatened to kidnap him. This case is not an exception. There are several reported incidents of strangers' voices being heard over baby monitors.
Hackable sex toys
Last year, researchers from a tech firm SEC Consult announced that the private sex life of at least 50,000 users had been exposed by a sex toy ‘Vibratissimo Panty Buster.’ Multiple vulnerabilities put at risk not only the privacy and data but also the physical safety of the owners. All customers’ data was accessible via the internet in such a way that explicit images, chat logs, sexual orientation, email addresses, and passwords were visible in clear text. But it’s not the worst part. The ‘Panty Buster’ toys could be hacked to remotely inflict sexual pleasure on victims without their consent.
A spy in your own home
Earlier this year, CNN managed to access a variety of camera feeds using a search engine for IoT devices Shodan. One of the feeds showed a family in Australia and its daily routine, while other cameras captured a man in Moscow preparing his bed and a woman in Japan feeding her cat. All of them seemed unaware of the fact they could be watched through a camera in their own room. According to CNN, none of the cameras had had security checks and were open to anyone who knew the right address.
Insecure home thermostats
In 2016, hackers left the residents of two apartment buildings in Lappeenranta, Finland in freezing cold for nearly a week by launching a DDoS attack on their environmental control systems via thermostats. Because both the central heating and hot water systems were attacked, the environmental systems were rebooted in their attempt to fight off the attack and got stuck in an endless loop.
Hackable medical devices
In 2017, the US Food and Drug Administration (FDA) confirmed that St. Jude Medical’s implantable cardiac devices could be easily hacked. Such devices are usually used to monitor patients’ heart functions and control heart attacks. However, due to transmitter vulnerabilities, hackers could control shocks, administer incorrect pacing, and deplete the battery. And it’s not the only time when the FDA issued similar warnings. Earlier this year a new alert was issued on the security of Medtronic insulin pumps, which hackers could remotely access and control.
The spying doll Cayla
In 2017, Germany banned an interactive doll ‘My Friend Cayla’ because it contains a “concealed surveillance device.” According to the researchers, hackers can use an insecure Bluetooth device installed in the toy to listen and talk while a child is playing with it. This interactive doll opens ways for hackers to use its cameras and microphones to see and hear whatever Cayla does. The Cayla companion app also encourages children to share their parents’ names, what schools they go to, and where they live.
Backseat driver of your jeep
Back in 2015, a team of researchers was able to take total control of a Jeep SUV. By exploiting a firmware update vulnerability, they hijacked the vehicle and made it speed up, slow down, and veer off the road - almost a scene from Fast and Furious. Luckily, this time, it was a team of researchers and not a real hacker. Four years later, we are still dreaming about autonomous cars and but many of the previous vulnerabilities still haven’t been addressed.
How to stay safe?
Internet-connected devices make our lives easier. However, most of them lack the security features that are standard in computers, tablets, and even smartphones. That’s why, according to the digital privacy expert Daniel Markuson, before acquiring a new IoT device and bringing it home, you should always consider whether it really benefits you.
“Of course, it doesn't mean that, if something can be hacked, it will be. Many of these cases are still theoretical, but staying cautious can do harm. If you have a smart device at home or work, read more about it and use network security technologies. Strong passwords and authentication methods reduce the risks as well,” says Daniel Markuson, digital privacy expert at NordVPN.
From refrigerators and lamps to door locks and heating, the Internet of Things (IoT) has revolutionised the way we live and work, making a truly robust ecosystem of smart devices a reality. Here Leigh Moody, UK Managing Director at SOTI, walks Finance Monthly through the developments of a ‘connected home’ and how these present opportunities for other sectors.
Indeed, IoT has quickly become one of the hottest technology topics around, expanding into all manner of industries as the rate of innovation shows no signs of slowing down.
Within the home, IoT has turned everyday objects into connected products designed to make our lives easier, more convenient, and more comfortable. The likes of connected electricity meters and doorbells have already been around for some time, giving consumers a taste of the possibilities on offer.
And momentum in the industry is continuing to intensify, with the worldwide connected home market predicted to grow from its $24 billion valuation in 2016, to $53 billion by the year 2022.
Smart devices have certainly made their mark among consumers, but this isn’t the only place where IoT is having a significant impact. Connected devices are also quickly becoming more commonplace in industrial settings such as factories and hospitals, as well as in traditional office environments.
It’s an area that more and more device manufacturers are trying to exploit and one that has endless possibilities – especially for those businesses that can learn from what has already happened within the connected home.
IoT in business
As the Internet of Things has become more mainstream, vendors and businesses alike have taken inspiration from the smart home model and quickly realised that connected devices have plenty to offer a B2B environment.
From increased productivity and more accurate decision-making, to reduced production costs and a better understanding of customer needs, there are countless examples of how IoT is bringing value to enterprises around the world.
For example, manufacturing firms have started to deploy smart sensors in their factories for predictive equipment maintenance. This enables them to save valuable money in labour costs and lost revenue by proactively identifying issues before they become a major problem, rather than waiting for something to break down.
Similar ‘smart’ technology is also transforming vehicle management in logistics companies, with the data collected enabling businesses to become much more cost-efficient by reducing fuel spend and vehicle downtime.
Then there is retail, where IoT is being used at virtually all stages of the product journey. This starts with optimising the supply chain and using analytics to ensure the right products are in the right place at the right time, while also enabling brands to transform the in-store experience and connect with shoppers in a more personal way.
These are all hugely compelling use cases, but just the tip of the iceberg with regards to what the Internet of Things will make possible in the future.
So, it’s clear that IoT is set to gain substantial value within the enterprise over the coming years. But, in order for its potential to be realised, there is one key challenge that will first have to be overcome.
Solving the data dilemma
The main driver for enterprise IoT is that the large volumes of data created by connected devices present a huge opportunity. By leveraging the power of analytics – either on a small scale or across large deployments – businesses can gain additional layers of insight into their operations and make improvements.
This is exactly what the smart home enables. By using connected products to track energy usage, for example, consumers can learn where they are spending the most money and become more cost-efficient.
However, from an enterprise perspective, the challenge comes in being able to efficiently manage and control hundreds or potentially thousands of smart devices. Simply keeping track of the vast swathes of data being generated from devices in a range of different locations and from an assortment of vendors, is already a serious issue and is likely to be the biggest IoT challenge IT departments will face in the future.
What they don’t want is to have several platforms pulling in different data streams. Not only would this be hugely confusing to manage, the lack of coordination would create a fragmented picture of what is going on across the business.
Instead, enterprises need to have one integrated view of everything, through one pane of glass, to manage their IoT ecosystem as simply as possible.
Incorporating an effective device management strategy such as this would go a long way towards helping enterprises enable all that the connected future has to offer. IT teams would have full visibility into what is going on across every single endpoint, enabling them to maximise the value of the data being collected.
There may be challenges along the way, but developments in the consumer world have already shown the impact IoT can have on our everyday lives. By taking the concept of the smart home to the next level and putting systems in place to efficiently manage the data that is collected from a growing number of devices, enterprises will be able to innovate and take advantage of the tremendous potential the Internet of Things has to offer.
Here discussing the increased adoption of connected devices and sensors in banking and how IoT enables banks to respond in real-time to customer needs, is Neil Bramley, B2B Client Solutions Business Unit Director at Toshiba Northern Europe.
Internet of Things (IoT) technology is on the rise both at home and in the workplace, and will soon significantly impact and empower the way we live and work. To date, such solutions have arguably made a bigger splash in the consumer landscape than B2B, with connected fridges, cars and thermostats all resonating with the public. As consumers awareness of IoT grows, so too does their expectation that it will blend into their everyday consumer experience. No business is seeing this effect more than those in the financial industry as more IoT technology incorporates payment capabilities.
The case for financial organisations to introduce IoT into their internal infrastructure and consumer facing technology capabilities is gaining in strength, with solutions providers continuing to innovate and push the boundaries of what such technologies can achieve. The whole concept of IoT is that it can be anything organisations want and need it to be – all it takes is the right app or piece of code to be built around it. At this stage in its adoption, many IT managers in financial organisations don’t necessarily understand the potential of IoT. Given the personal, and often sensitive, nature of the data these organisations manage a fear of data and network security persists, particularly in the wake of recent global cyber-attacks. However, such concerns aren’t projected to hold the market back for long, with IDC research predicting that global spending on IoT technologies is forecast to reach nearly $1.4 trillion by 2021.
The scope of IoT solutions is evolving to fuel this demand. Whereas stationary M2M (machine to machine) solutions, such as sensors, kick-started the connected device market and remain popular, mobile IoT solutions provide vast opportunities across numerous sectors – helping to improve workflows, enhance interactions with staff and customers, and even improve the safety of workers. Key to this development is the introduction of peripherals to the workplace, which can be partnered with mobile gateway solutions to ensure cross-machine collaboration.
One natural example lies within banking. The increased adoption of connected devices and sensors will bring increasingly rich data to banks about their customers, allowing them to provide more personalised products and services, even enabling them to respond in real-time to customer needs. As connected technology becomes imbedded in our environments, and the connected home and smart city market matures, banks could provide real-time spending advice. For example if you have overspent on your budget that month your bank might suggest you avoid your usual Friday lunchtime treat.
Elsewhere, peripherals like smart glasses (wearable display technology) can ensure a hands-free solution to workers across a range of roles. Augmented Reality could give insurance sales teams a in-depth view of customers homes geographical locations and provide them with a better analysis of potential risks in order to give them a better deal, or provide a hands free look at a customers financial history enabling the creation of bespoke products and services.
Beyond devices themselves, operating systems will also play a crucial role in the progression of IoT in the financial services world. Currently the focus is very much on writing software for iOS and Android – a smartphone-onus which again signifies the advanced stage of the consumer market. Yet the natural progression is for solutions providers to expand their focus to incorporate Windows 10 – this will serve as a catalyst in creating a greater number of solutions designed for professional use, which in turn will inspire more financial organisations to turn their attention to developing IoT coding and apps to address different business needs.
It is only a matter of time until IoT becomes a major enabler for organisations across the finance industry – with such game-changing potential, it’s important for IT managers to get ahead of the curve to understand how these technologies can empower their business.
In a new white paper, Vodafone – supported by Bernard Vrijens, Professor in public health at the University of Liege, Belgium – claims that new connected solutions based around the Internet of Things (IoT) will help people to follow their medical treatment programmes more closely. This latest development could improve millions of lives and save billions of dollars.
The World Health Organisation has said that adherence – the action of complying with a medical treatment regime – for long term conditions such as hypertension, cancer and HIV stands at only around 50%, meaning half of patients do not follow their doctor’s instructions. As a result, patients’ chances of recovery and relief are reduced. Better approaches to adherence have been estimated to bring 50% of the non-adherent population onside1.
Bringing together smart devices, connectivity and the cloud, the Internet of Things (IoT) can lead to more effective healthcare, according to the white paper. It will encourage patients to follow their treatment programme more accurately by providing them with individualised information on their therapy. By encouraging them to continue with their full course of treatment, this approach could potentially save up to an estimated $290 billion in otherwise avoidable medical spending, in the US alone each year[i].
The data-driven and IoT enabled adherence management outlined in the white paper would offer benefits to patients, clinicians, medical device companies and those that pay for the provision of medical services. It could lead to more independence for patients, better treatment, more effective drug development and ultimately lower healthcare costs.
University of Liege Professor of public health Bernard Vrijens said, “Healthcare providers currently monitor four main vital signs: body temperature, pulse rate, respiration rate and blood pressure. The IoT means they’ll soon be able to accurately measure a fifth – adherence. I believe that that the importance of connectivity in the both medical devices and in patient engagement cannot be under estimated. This is a pivotal moment on the road to more individualised healthcare.”
Vodafone IoT Director Erik Brenneis added, “This is a great example of how the internet of things has the potential to help people live healthier lives and access more effective medical treatment. We hope that the vision and creativity of people like Professor Vrijens will quickly become a reality with the IoT. We believe that we are on the threshold of a significant change in the way chronic diseases are managed.”
(Source: Vodafone)
