First Republic Bank June 4, 2023
Lifestyle
Smart devices have skyrocketed in popularity in recent years. Popularity, however, does not equate to security.
Smart technologies, which range from home security cameras to kitchen appliances, are often lauded for their convenience. But while they can be useful, they’re beholden to few federal regulations, often leading to weak security features (if any). This poses major risks to consumers and businesses alike.
We’ll discuss these risks (and how to mitigate them) after first exploring the definitions of “smart device” and “Internet of Things” to provide vital context.
There’s no strict definition that outlines what is and isn’t a smart device, but these devices can generally be described as internet-connected electronics with computing capabilities and the ability to connect to and share data with other smart devices. Smart technology tends to allow extensive interaction between users and their devices, too. These devices — the global network of which is known as the IoT — have transformed the way we go about everyday life, making it easier to tackle all sorts of daily activities, like communicating with others, ordering products, playing music, making reservations and managing our daily lives. You may already be familiar with some of these devices:
Smart devices stand out by incorporating interconnectivity and innovative “smart” featuresdeveloped with convenience in mind. However, this convenience often comes at the price ofmediocre security features, which can put businesses and consumers at risk.
Per Merriam-Webster,the phrase “Internet of Things” describes “the networking capability that allows information to be sent to and received from objects and devices (such as fixtures and kitchen appliances) using the Internet.”
To simplify this somewhat complex term, “Internet of Things,” is a concept that broadly encompasses the global network of interconnected smart devices.
Perhaps the most overt, high-level security issue with smart devices is that they’re subject to very few governmental security regulations. As a result, they may not include the features necessary to protect users from criminals who wish to access sensitive information or take control of their smart devices altogether. Even when security features are included, they may require manual activation or be poorly communicated to users (or both).
Therefore, the burden of safety within the IoT often falls upon the user, and they may not be able to do much more than choose a complex password or update software, depending on the product. This theoretically opens the door to a number of undesirable situations, such as:
That’s not to say these are common issues. The list merely highlights the necessity of using available security measures to the best of one’s ability.
It’s also important to note that, because businesses have begun to rely increasingly on smart technology, these risks apply just as much to companies as to regular consumers — perhaps even more so, since businesses are often responsible for protecting the sensitive information of their customers.
One prominent example that exhibits the security shortcomings of smart devices is a class action lawsuit that was filed against a popular smart security device company. Dozens of devices were hacked, offering bad actors not only a visual glimpse into victims’ homes, but also the opportunity to speak with victims and harass them. This showcases a type of harm that differs in scope from other digital crimes — phishing, for example — that often have a more specific financial focus.
By now, it’s clear that smart devices offer few guarantees of security. Still, there’s no need to avoid these devices altogether. Please consider following some simple measures to help minimize security risks.
“Use a strong password” is a time-tested tip for traditional internet users that applies just as heavily to smart device owners. Essential password best practices include:
As mentioned earlier, some smart devices include security measures — multi-factor authentication, for example — that may not be active right out of the box. Additionally, these features may not be communicated to users as clearly as they could be. Users should investigate device settings (as well as relevant app settings) manually to ensure they’re enabling every security measure at their disposal.
Smartphone apps associated with smart devices often receive frequent updates and these updates, can include security patches. To best protect your information, ensure that automatic updates are enabled. The same goes for software and device updates, assuming the manufacturer provides access to regular updates.
Stay up to date on the latest real estate trends.
Buyer
September 7, 2024
This week, our Tech Trends round-up features new tools designed to improve the flow of information within the real estate environment.
Buyer
September 7, 2024
The number of homes actively for sale grew by 35.8% year-over-year in August, according to data from Realtor.com
Buyer
September 6, 2024
Mortgage rates remained flat in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).
Buyer
September 6, 2024
Luxury living is about more than just stunning views and cutting-edge smart home technology—it's about elevating your lifestyle.
Lifestyle
September 5, 2024
Get there first.
Buyer
September 5, 2024
Mortgage application activity ended August on the rise, according to data from the Mortgage Bankers Association (MBA) covering the week ending Aug. 30.
We Guide Homeowners through the complicated process of selling their home using our 4 Phase Selling Process and 3 Prong Marketing Strategy that alleviates their stress and moves them effortlessly to their next destination. Schedule a 15 Minute Complimentary Strategy Session Today