Financial IT – Almost half of companies still can’t detect IoT device breaches, reveals Gemalto study

financial-itGemalto, the world leader in digital security, can today reveal that only around half (48%) of businesses can detect if any of their IoT devices suffers a breach. This comes despite companies having an increased focus on IoT security:

  • Spending on protection has grown (from 11% of IoT budget in 2017 to 13% now);
  • Nearly all (90%) believing it is a big consideration for customers; and
  • Almost three times as many now see IoT security as an ethical responsibility (14%), compared to a year ago (4%)

With the number of connected devices set to top 20 billion by 2023, businesses must act quickly to ensure their IoT breach detection is as effective as possible.

“Given the increase in the number of IoT-enabled devices, it’s extremely worrying to see that businesses still can’t detect if they have been breached,” said Jason Hart, CTO, Data Protection at Gemalto. “With no consistent regulation guiding the industry, it’s no surprise the threats – and, in turn, vulnerability of businesses – are increasing. This will only continue unless governments step in now to help industry avoid losing control.”

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