A Review on Cyber Crimes on the Internet of Things

TL;DR

This paper reviews the increasing threats of cybercrimes on IoT devices, emphasizing the need for improved security measures and understanding attack methods to protect infrastructure and users worldwide.

Contribution

It provides a comprehensive overview of cyber threats targeting IoT, highlighting challenges faced by MSPs and the importance of effective security strategies.

Findings

Cybercrimes threaten global infrastructure and economy.

IoT security is crucial due to rising cyber attack sophistication.

MSPs face significant challenges in defending IoT systems.

Abstract

Internet of Things (IoT) devices are rapidly becoming universal. The success of IoT cannot be ignored in the scenario today, along with its attacks and threats on IoT devices and facilities are also increasing day by day. Cyber attacks become a part of IoT and affecting the life and society of users, so steps must be taken to defend cyber seriously. Cybercrimes threaten the infrastructure of governments and businesses globally and can damage the users in innumerable ways. With the global cybercrime damages predicted to cost up to 6 trillion dollars annually on the global economy by cyber crime. Estimated of 328 Million Dollar annual losses with the cyber attacks in Australia itself. Various steps are taken to slow down these attacks but unfortunately not able to achieve success properly. Therefor secure IoT is the need of this time and understanding of attacks and threats in IoT structure should be studied. The reasons for cyber-attacks can be Countries having week cyber securities, Cybercriminals use new technologies to attack, Cybercrime is possible with services and other business schemes. MSP (Managed Service Providers) face different difficulties in fighting with Cyber-crime. They have to ensure that security of the customer as well as their security in terms of their servers, devices, and systems. Hence, they must use effective, fast, and easily usable antivirus and antimalware tools.