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Three-quarters of industry pros say a breach caused by an IoT device is likely

Nearly three-quarters of industry professionals believe there is a medium or high likelihood of their organization being hacked as a result of the interconnectivity of Internet of Things (IoT), a recent report found.

The IT Risk/Reward Barometer, conducted by ISACA, surveyed more than 7,000 IT and cybersecurity professionals. The results demonstrate the gap between consumers' perception of IoT device security and the confidence level among cybersecurity professionals. 64 percent of US consumers expressed confident in their ability to control information conveyed through IoT devices. Meanwhile, 78 percent of professionals said security standards are not sufficient.

Nearly half of the respondents believe their IT department is not aware of all of their organization's connected devices while 73 percent think current security standards do not address the risks that IoT devices pose and think IT departments need updates or new standards.

"The key is to balance risk with benefits, and I encourage professionals and consumers to safely embrace IoT devices," Robert Clyde, CISM, international vice president of ISACA, said in an email to SCMagazine.

At a panel discussion during SC Congress New York on Tuesday, cybersecurity professionals told attendees IoT security challenges may cause an unbundling of the interconnected IoT.

On Monday a panel of professionals at the National Cyber Security Alliance's (NCSA's) Cybersecurity Summit at Nasdaq said security challenges are starting to change business models for IoT device manufacturers. John Ellis, founder and managing director of Ellis & Associates, said,  “We've moved to a new world where we have to ship and remember.”

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