CYBER RISKS

CYBER RISKS

Literature Review

The world has changed a lot because of technology, and this has influenced how almost everything is done. One technological optic that has changed the world is the Internet of Things or, instead of as it is known among many people IoT. This is a literature review focusing on cybersecurity threats and critical risks associated with IoT devices. At the same time, this review aims to exopod on any other relevant optic.

Recap of what IoT devices are

An IoT device is a device based on the internet and made to work in liaison with other related accessories, to achieve an intended purpose. In technical terms, IoT devices are simply a system of correlated computing devices equipped with the ability to transfer data over a network, which in most cases, is the internet without needing any human interaction. The next part of this paper expounds on some of the cyber-risks associated with IoT devices.

The relevance of Cyber-Risks associated with IoT Devices

Before diving straight into how IoT devices could be affected by security breaches in the form of various cyber-risks, it is essential to begin by highlighting how these risks may happen in the first place. Earlier on, it was mentioned that IoT devices are reliant on a platform to work well, and in most cases than not, this platform is always the internet. The use of the internet, in as much as it brings a lot of efficiency and convenience, has its flaws and areas of weakness. It is these areas of vulnerabilities that are relayed to the devices as well. In the grand scheme of things, this is how in the end, devices in IoT can face cyber-risks.

Cyber-Risks associated with IoT Devices

There are several underlying risks related to IoT devices. This part of the paper is dedicated to listing and explaining some of these risks. Most importantly, these risks are narrowed down with the comprehension and attention to detail. They include the following;

• Hacking
• Data Loss
• Data Compromises
• Phishing
• Ransomware

These are just a few of the cyber-risks associated with IoT devices. Through them, it would be more apparent to understand the vulnerability that lies in many IoT devices. It is also worthy of highlighting that these are not the only risks as there are plenty more not mentioned in this case.

Hacking

IoT hacking is a way of having access to technological devices by stealing information from a device as well as spreading malware. Some of the adverse effects of piracy may include losing information whereby some files could get deleted as well as being changed. Privacy is also reduced since when one has access to your documents or files on your phone or computer, they could see everything. Loss of finances is also a negative effect since most businesses lose funds due to hacked companies.

Data loss.

Whenever a device is hacked, there is a high percentage that one will lose information from their system. Some files could end up being deleted accidentally by the hacker and hence lose data. Viruses could also attack computers or phones, therefore, losing data. Some attacks are targeted to steal specific information from businesses and damage them. These affect the businesses widely.

Data compromises.

This also means a data breach whereby confidential information is released intentionally to an environment that is considered untrusted. It could also mean data leakage. This is an IoT risk since people could leak your private photos to the public hence cause humiliation as well as other confidential documents that no one needed to have access to.

Phishing.

This is a cybercrime in which a specific target is contacted either through email or text message or phone calls by people pretending to be real institutions to get personal information from the individual such as credit card details, passwords, etc. Individuals, later on, end up losing money or other valuable resources.

Ransomware.

This is a cybercrime that blocks you from accessing your data. It is also about threatening a person to publish their data, not unless you pay them. This should not be the case since there should be security in one’s details. This is, therefore, another cybersecurity risk.