IoT Explosion and Cloud Computing, A Security Nightmare

As organizations embrace the potential of the Internet of Things (IoT) and harness the power of cloud computing, it is imperative to acknowledge the inherent security vulnerabilities and threats that accompany this digital transformation. The interconnected nature of IoT devices and the reliance on cloud infrastructure create a complex ecosystem that demands rigorous security measures to fortify defenses against cyberattacks. 

As the backbone of any modern business, the integration of IoT and cloud computing has become increasingly crucial, says Josué Ramírez, LATAM Regional Director, International Data Center Authority. The interconnected nature of modern devices, coupled with the reliance on cloud infrastructure, amplifies the complexity of managing and securing these ecosystems.

The integration of IoT and cloud computing must be flexible and adaptable to the ever-changing landscape of technological advancements and the evolving needs of society. "There is a shared responsibility with users, with employees. The use of new technologies should be a support, not a barrier, to carry out activities within the workspace," says Marco Antonio Núñez de Arce, GM Honeywell Security LATAM, Honeywell.

As organizations increasingly adopt IoT devices and leverage cloud computing services, they expose themselves to a range of vulnerabilities and potential security breaches. According to a 2020 Unit 42 IoT Threat Report, a staggering 57% of IoT devices are vulnerable to medium- or high-severity attacks, positioning IoT as the "low-hanging fruit" for attackers. This data underscores the urgent need for robust security measures to protect against the inherent risks associated with the proliferation of IoT devices. 

“The growing reliance on technology and digital systems in operational technology (OT) has made it a prime target for cyberattackers. The use of internet-connected devices, sensors and automation has made it easier for cybercriminals to penetrate these systems and cause damage, including the theft of intellectual property, financial losses and damage to physical infrastructure,” says Sneer Rozenfeld, CEO, Cyber 2.0.

Industry leaders at Mexico Cybersecurity Summit 2023 emphasized the significance of fully understanding all aspects of a company in order to protect it best. This way, cybersecurity measures can focus on the assets that need that support the most, whether they are human or technological. Through this analysis, companies can establish accurate and targeted mitigation strategies. 

Inventories and understanding the product are crucial steps to leverage the combined potential of IoT and cloud computing, while mitigating associated risks, explains Mauricio Castaños, CISO, Nemak. "Regarding the pandemic, it was easy to identify where to focus on security, but now that we expand into the cloud, we have to identify what we have out there and, at the same time, what we have within those devices,” he adds.  

“We need to have inventories. We also need to understand the business to know if new technologies help us. In the end, implementing controls and cybersecurity should be a tailored suit that mitigates the risks of the organization where it is viable in terms of cost-effectiveness,” says Castaños.

Understanding the business, categorizing it and selecting an appropriate security method are essential pillars of a successful cybersecurity strategy, explains Arturo Fonseca Fuentes, CIO, DHL Express Mexico.

Risk analysis, identification and mitigation are also critical in addressing the financial aspect of the cybersecurity strategy, explains Enrico Belmonte, CIO, Peñaranda. By integrating these perspectives, organizations can navigate the complexities of the business landscape while ensuring appropriate security measures are in place.

The integration of IoT and cloud computing demands robust security measures to safeguard against potential vulnerabilities and threats. The awareness that new technologies can be exploited by malicious actors underscores the need for comprehensive security strategies.

Furthermore, training and awareness among users and employees are vital in ensuring effective security practices. "To what extent do you believe people are aware that all new technologies are not only for the good but also for the bad? How much danger do you consider is involved in not having this in mind?" asks Ramírez.
 

A looming problem for every company with an online presence is ransomware, which can greatly compromise a business’ finances and operations. "Ransomware is dangerous. Not having containment measures for ransomware is very delicate because they do not always give the information hack. Implementing preventive measures to the extent possible or outright paying the ransom are potential solutions when dealing with ransomware,” according to Castaños.

Suppliers and employees play a crucial role in the important and delicate management of information. "Our greatest information leakage and highest risks stem from people. Investing time in training is of utmost importance,” says Fonseca.

Some organizations lack security strategies that can quickly and effectively respond to a crisis, in which knowing what needs to be done is crucial. By embracing a proactive approach to cybersecurity and fostering a culture of security awareness, businesses can navigate the evolving digital landscape with confidence and resilience.