Ninety per cent of consumers lack confidence in IoT device security

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That's the view of consumers and businesses alike, concerned about the security threats that could hit connected devices.

A new report finds that two-thirds of consumers and nearly 80 percent of organizations support government-set IoT guidelines. "In order to ensure the United Kingdom is reaping the benefits that the IoT ecosystem will bring, the companies producing and enabling these devices need to secure the IoT now, to guarantee consumer confidence in the future", Pindar said.

'With GDPR looming, it's worrying that UK IoT vendors and internet service providers (ISPs) aren't as serious about prioritising the security of IoT devices as their counterparts across the world.

61% of businesses would like governments to apply regulations that make it clear who is actually responsible for IoT devices and data at each stage of its journey.

Two thirds of respondents are concerned that hackers could take control of their device.

According to the survey, 54% of respondents own an IoT device but only 14% believe they are knowledgeable about their devices' security. In fact, this was more of a concern than their data being leaked (60 per cent) and hackers accessing their personal information (54 per cent).

With a potential global IoT security crisis looming, the situation in the United Kingdom is concerning as United Kingdom vendors spend just nine percent of budget on security.

Encouragingly, businesses are realising that they need support in understanding IoT technology and are turning to partners to help, with cloud service providers and IoT service providers the favored options. 75 percent of businesses said they use encryption as their main security method, with 62 percent saying they encrypt data as it reaches their devices, and 59 percent as it leaves.

However, 3% of Australian respondents don't encrypt any data from IoT devices.

All Middle East companies reported that they also see an increase in sales or product usage after implementing IoT security measures. "United Kingdom consumers are clearly concerned by their IoT data, and are demanding the government takes more action", he added.

On the corporate side, the survey found that while IoT device manufacturers and service providers only spend 11 percent of their total IoT budget on securing their devices, many do recognize the importance of security, with 50 percent of companies already having adopted a security by design approach.

Research conducted by digital security firm Gemalto shows that 90% of consumers lack confidence in the security of Internet of Things (IoT) devices, while two-thirds of consumers and almost 80 per cent of organisations support the idea of governments getting involved in setting IoT security.

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