P&C

How Does It Feel to Be Targeted?

If you’re plugged in (and you probably are), then you’re already in someone’s crosshairs.
Posted on March 30, 2016

These threats are quite real and sobering. According to a study by HP (formerly Hewlett-Packard), 70% of Internet-connected devices contain vulnerabilities. The study cites password security, encryption and user access as major exposures.

To determine the extent of these risks, HP probed 10 of the most popular devices for weaknesses. The firm discovered 80% did not require passwords of sufficient complexity and length, with most devices allowing such simple passwords as “1234.” And 70% had not encrypted communications to the Internet and the local network.

Yet 90% of the tested devices had collected at least one piece of personal information, such as the user’s name, email address, home address, date of birth, credit card or health information. Altogether, eight devices were cited as raising serious privacy concerns regarding the collection of consumer data.  

Bear in mind that only 10 smart devices were analyzed. Embedded everywhere around us, in soon to be everything, are inexpensive cameras, sensors and wireless systems connecting things to other things, reshaping lives and businesses in ways that were unfathomable just a decade ago.

“By 2017, 90% of all products will be connected to the Internet,” says Michael O’Brien, a partner, member of the cyber risk team, and co-chair of the product liability practice team at law firm Wilson Elser Moskowitz Edelman & Dicker. “At present, about five billion devices are connected to the Internet. This is expected to catapult to 25 billion devices by 2020. Companies like Samsung have announced that all of their products are slated to connect to the Internet within five years.” If hackers can control our cars, thermostats, home appliances and industrial machinery, catastrophic losses are a frightening possibility.

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