For the third year, the Ponemon Institute has published a report on IoT security and risk management, and this year focused on third party risk and the lack of accountability on the part of too many board members.
IoT-related attacks continue to rise in 2018, with 26 percent of breaches caused by an unsecured IoT device or IoT application. This is nearly double the percentage compared to the prior year (2017).
The Institute’s announcement said, “the actual number may be greater as most organizations are not aware of every unsecure IoT device or application in their environment or from third party vendors.”
The report also shared that less than half of company board members approve programs intended to reduce third party risk, and only 21 percent of board members are highly engaged in security practices and understand third party and cybersecurity risks in general, which is becoming an increasingly significant issue, not just for IoT but for all “digital risk management” as enterprises and organizations are connecting more systems, sharing more data among systems, participating in API-based ecosystems, and generally instrumenting…
