June 12, 2017

Enterprises Need ‘Security 101’ to Keep IoT Devices Safe

Almost half (46 percent) of U.S. firms that use an Internet of Things (IoT) network have been hit by at least one security breach.

This, according to a survey by consulting firm Altman Vilandrie & Company, which said the cost of the breaches represented 13.4 percent of the total revenues for companies with revenues under $5 million annually and tens of millions of dollars for the largest firms. Nearly half of firms with annual revenues above $2 billon estimated the potential cost of one IoT breach at more than $20 million.

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