03 Nov Security Breach – 3 Nov 2023
In an era where the internet has permeated nearly every aspect of our lives, the Internet of Things (IoT) has emerged as a major change in the way we live and work. This ground-breaking technology connects devices and systems in a new and exciting way. Who doesn’t love not having to get up to turn off the lights or checking in to see what your dog is doing during the day? From smart thermostats and wearable fitness trackers to autonomous vehicles and industrial machinery, IoT technology is everywhere now. However, this digital revolution comes with its own set of challenges and risks, raising questions about security, privacy and reliability.
The rise of IoT has been swift. These interconnected devices have the power to improve efficiency, enhance convenience and even save lives. For instance, in the healthcare sector, IoT devices can continuously monitor patients’ vital signs, providing instant alerts in the event of an emergency. In agriculture, IoT can optimise resource usage by collecting data on soil quality and weather conditions. Internet-enabled devices are becoming essential in many sectors.
However, the convenience of this new technology comes at a price. IoT devices can open them up to cyber risk. IoT devices in the office can create security vulnerabilities that can be devastating if they’re not addressed. In the work-from-home era, employees are logging in to their company’s systems on the same Wi-Fi network as their fitness tracker, bringing the danger presented by personal IoT devices right to their employer’s door. Smart buildings, medical devices, networking equipment and VoIP phones represent the riskiest IoT device groups for businesses. One of the most pressing challenges associated with IoT is the ever-present specter of security breaches. As more devices become interconnected, the attack surface for cybercriminals grows. Vulnerabilities in IoT devices can open the door to malicious actors who can compromise data privacy, steal sensitive information or even launch destructive attacks on critical infrastructure.
Recent Breaches
Japan – Seiko – Major Japanese watchmaker
Exploit: Ransomware
Risk to Business: Moderate: Major Japanese watchmaker Seiko has admitted that the company suffered a data breach caused by a ransomware attack by the ALPHV/Black Cat ransomware group. The company confirmed that nearly 60,000 items of personal data had been snatched from the systems of several of its business units. Some of the stolen data belonged to consumers who bought from Seiko Watch Corporation. Another tranche belonged to business partners of Seiko Watch Corporation, Seiko Group Corporation and Seiko Instruments Incorporated. Some employee data and job seeker data from employees of Seiko Group Corporation was also stolen.
United States – Stanford University – Institution of Higher Learning
Exploit: Ransomware
Risk to Business: Severe: The Akira ransomware group has claimed responsibility for a cyberattack on Stanford University within the network of the school’s Department of Public Safety. The threat actors claimed to have stolen 430 GB of data. The university was quick to reassure the public that the attack did not impact the campus police’s ability to respond to emergencies. No specifics were available about the types of data stolen or any ransom demand at press time.
Talk to a TCT team member today about implementing cyber security and phishing training plan for your employees.
Robert Brown
3/11/2023
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