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The Risk of IoT Devices in Your Home

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There were 112.29 million malware attacks on IoT devices in 2022 — yet users tend not to check the security settings on these devices.

Cyberstalking

A less studied but concerning risk cited in the Computers in Human Behavior research is the potential for cyberstalking and exacerbating domestic abuse. Escaping an abusive or controlling relationship, for example, could be much more difficult if an abuser is monitoring their partner's behavior through smart devices.


How IoT Security Breaches Happen

Criminals can gain access to your IoT devices in a variety of ways, including:

  • Weak Device Security. Cybersecurity may be the last thing on your mind when buying a smart vacuum or fridge. Unfortunately, it's not top of mind for many consumer electronics companies as they rush devices to market, either. A 2021 study12 by Euroconsumers found that 10 of 16 common smart home devices had security vulnerabilities — 54 weak points, in fact, among the 10 devices.

  • Unsecured Networks. If your devices share a network, any data stored on the network — from when you last used your smart coffeemaker to smart TV data — is vulnerable to intrusion13 if any device on the network gets hacked. And if your computers are on the same network, they can be exposed as well. This security weakness could expose your workplace, too, if your smart home devices are using the same network as your work-from-home devices.14

  • Smartphone Hacking: You can control your IoT home device through your phone, but if a criminal gains access to your device, they may also be able to gain access to your phone.

How to Protect Your Smart Home Devices

It's safest to assume that many of your smart home devices are vulnerable. But some simple safety measures can protect them from being compromised or becoming the point of entry for an attack on your entire home.

  • Put smart home devices on a guest network. Treat your smart home devices like guests in your home — guests who might bring a criminal as their plus one. If your computers are on one network and your IoT devices are on another, you close down an entry point to your most valuable data.

  • Lock your smartphone. This is good security hygiene with or without IoT devices in the mix. Strong passwords, effective security software and two-factor authentication on all of your devices can help keep criminals at bay.

  • Boost your router security. Buy a router that includes strong security measures. Then change the default username and password when setting it up, so hackers can't guess what type of router you have, which would aid them in hacking it. Enable your router's firewall15 and follow the device's instructions to use WiFi Protected Access (WPA) authentication16 for maximum security.

  • Update smart devices' software. You're probably used to updating software on your computer and smartphone, but some IoT devices offer updates as well. Some may be automatic; check your device settings for manual updates, too.

  • Run a home scanner. Wondering about your current home network vulnerabilities? You can run a scanner17 on your network to identify weak spots.

It's an exciting time for the IoT as home devices get smarter and more and more households embrace these technologies that make life easier. But as the market rushes to meet demand, device security may sometimes get lost in the shuffle. Cybersecurity technology company Bitdefender predicted in a 2023 report5 that "IoT security will get worse before it gets better."

In the meantime, protection is largely in the hands of users. But with these security measures and an awareness of where the dangers lie, you can keep your favorite smart home devices cleaning your floors, playing music, keeping your home secure, and controlling your heating and cooling— and still protect your home and family from cyber criminals.


Enroll in Credit and Identity Protection Services

As a Synovus Plus, Synovus Inspire, or Synovus Private Wealth customer, you can enroll in complimentary Credit and Identity Protection services. With this service, Synovus will monitor your credit reports and notify you any time any changes are made. Synovus will also scan the web to make sure your personal information hasn't been compromised by checking websites, blogs and peer-to-peer networks. Synovus also offers full-service identity restoration if you become a victim of identity theft.

Want to know more about how you can achieve peace of mind as a Synovus customer? Learn more.

Important disclosure information

This content is general in nature and does not constitute legal, tax, accounting, financial or investment advice. You are encouraged to consult with competent legal, tax, accounting, financial or investment professionals based on your specific circumstances. We do not make any warranties as to accuracy or completeness of this information, do not endorse any third-party companies, products, or services described here, and take no liability for your use of this information.

  1. Berg Insight, "The number of smart homes in Europe and North America reached 120 million in 2022," published April 17, 2023, accessed August 11, 2023.

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