IoT attacks could put a £1bn hole in the UK economy

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Research from Irdeto suggests IoT attacks may cost the UK economy over £1 billion per year due to lax security measures.

UK organisations in critical industries such as healthcare, transport, and manufacturing were polled by the Dutch security vendor. Irdeto found attacks on IoT equipment caused £244,000 in losses on average.

Steeve Huin, VP at Irdeto, said:

“Insecure IoT devices and companion apps are essentially low-hanging fruit for cybercriminals, who are increasingly finding new, creative ways to turn our technological dependence into their own nefarious gain.

It’s clear that, if not addressed, a lack of IoT security could pose

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