A new survey released this Wednesday has shown that 94 per cent of risk management professionals believed that a security incident resulting from unsecured IoT devices “could be catastrophic.”
The report jointly released by the Ponemon Institute and the Shared Assessments Program, was built on the responses of 553 individuals from various industries. Titled, ‘The Internet of Things (IoT): A New Era of Third Party Risk’, it takes a look at the concerns around third-party risks in IoT security, and what business leaders are doing to address it.
“More and more enterprises are turning to IoT to improve business outcomes and this growth is creating a breeding ground for cyber attacks,” said Dr Larry Ponemon, Chairman and Founder of the Ponemon Institute. “What’s shocking about these findings is the complete disconnect between understanding the severity of what a third party security breach could mean for businesses, and the lack of preparedness and communication between departments.”