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Security in the modern age

It is now universally accepted that ever-increasing sophistication in technology, however ground-breaking it may be, brings with it a host of security challenges.

The greater the innovation in how it’s made, the greater the innovation in how it can be misused or abused by those with malicious intent. After all, the harder a safe is to crack, the more savvy a thief has to be.

The security of today’s technology plays out against the backdrop of the so-called Internet of Things.

As explained by the BBC: “All kinds of gadgets, from toasters to sprinklers, fridges to domestic heating systems, are now boasting sensors, actuators and low-powered embedded chips.

“Whirlpool, Samsung, and LG all have all announced Wi-Fi enabled washing machines in the last month. Nest's smart thermostats can communicate with your GPS-enabled phone or tablet and activate your heater when you're on your way home. There’s even a clever egg tray that sends you a remote warning when you're running low on eggs or when they're getting old. This is the so-called 'Internet of Things' (IoT).”

And as a recent report from the American FTC after a workshop examining the impact of the Internet of Things indicates, security remains the main concern.

“The report recommends that companies bake security into devices from the beginning, rather than trying to build it in as an afterthought.” And those aren’t idle words.

According to a study from HP Security Research, 70% of the most commonly used Internet of Things devices had serious security vulnerabilities. This issue was also a recurring theme at the Black Hat and the DEFCON hacker conferences this past year.

The FTC also recommends training employees about the importance of security and emphasising that security must be appropriately managed within each organisation - and that includes any outside service providers that a company might hire.

Digital security affects everything. Nowhere is this made more clear than in banking – as seen in EFT payments, loans and so on.

This is why banks like First National Bank have won awards for their apps – not simply based on functionality, but as they form part of the safety architecture that keeps the bank safe.

But while most people know to be ultra-secure when it comes to finance, they are not so when it comes to, say, a fridge.

However, such is the world we live in that information can be obtained by the data collected by these connected devices – since they acquire personal details to make themselves more useful to the consumer.

Yet, in acquiring data on us for productivity, it also increases the potential for misuse for malicious intent.

It’s time for us to be more cautious – not just about our bank accounts but about every connected device.

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