Katie Kuehner-Hebert writing for CFO about how cyber crime costs are expected to soar to $2T by 2019:
Most breaches will target existing information technology and network infrastructure, the U.K. research and analytics firm said. While attacks on mobile devices and the Internet of Things are being reported at an increasing rate, the number of infected devices is minimal compared to more traditional computing devices.
“Currently, we aren’t seeing much dangerous mobile or IoT malware because it’s not profitable,” the report’s author James Moar said in a news release. “The kind of threats we will see on these devices will be either ransomware, with consumers’ devices locked down until they pay the hackers to use their devices, or as part of botnets, where processing power is harnessed as part of a more lucrative hack.”
“With the absence of a direct payout from IoT hacks, there is little motive for criminals to develop the required tools,” he added.
There currently is not a strong financial motive for criminals to attack the Internet of Things – aka IoT – but that does not mean one will exist in the future. We, as an industry, need to get out in front of this quickly before that motivation is found.