The exponential growth of the Internet of Things (IoT) is far outpacing the ability of stakeholders to address safety standards and security concerns. This is not unusual as rapidly developing technology often challenges regulators and standards organizations to develop a framework for consensus governance. However, because the IoT transcends so many industries, there will be unprecedented difficulties with respect to harmonization of standards that will apply from one industry sector to another.
The efforts to develop and implement safety standards and government regulations have been taking place globally, albeit in fits and starts and not necessarily in synchronization among the developed countries. Nonetheless, as governments take note of the IoT, the number of threats identified continues to multiply.
Red Flags for Datamining
On September 10, 2015, the Federal Bureau of Investigation (FBI) posted online a public service announcement warning of IoT risks for cybercrime, which include vulnerabilities to individuals’ and businesses’ personal data as well as the potential for “compromising the IoT device to cause physical harm.” [Emphasis added.] Universal Plug and Play (UPnP) protocol used to access many IoT devices was identified as being especially vulnerable to exploitation.