Promising to transform our life the Internet of Things brings new and exciting products. Companies not only aim to provide innovative products but also to combine these with users insights, big data and analytics to personalise services. This comes at an all time high for consumer concerns regarding privacy and how companies protect their personal data.

In this race, companies are forced to balance between Time To Market (TTM) or bolstering their security and privacy to the desired level. The current way of working is unable to scale or meet the challenges of agile devolvement.

Prima Security brings a unique background of technology, legal understanding and business knowhow to navigate this new world of connected devices and personalised services.

 

Internet of things 2020

Gartner predicts 26 billion IoT products year 2020. Ericsson has also predicted billions of connected devices 2020.

 

Privacy Sanctions

Regulatory and consumer concerns are constantly raised that new technologies are being developed rapidly without appropriate considerations. Privacy failures can lead to fines up to 4% of your annual turnover or 20 Million Euros, whichever is greater (ref. GDBR). Regular periodic data protection audits from government.

 

Security Cost

The average cost of fixing an issue once released is 1000 times more, compared to development. Balance investment cost in a controlled way.

 

Smart devices – concerns

HP has published a report late 2015 regarding security of connected devices. It shows that about 75% of the products has severe security issues.

 

HP findings when testing devices in 2015

  • 90 % of devices collected at least one piece of PII via the device, cloud or the mobile application.
  • 80% of devices raised privacy concerns.
  • 80% of devices along with cloud or mobile apps failed to require passwords that is sufficient.
  • 70% of devices used unencrypted network services.
  • 70 % of devices along with cloud and mobile apps enabled an attacker to identify valid user accounts.
  • 60% of devices raised security concerns with the user interface.
  • 60% of devices did not use encryption when downloading software updates.

 

Security issue cost over time
Security issue cost over time

 

The average cost of fixing an issue is 1 to 1000 if you compare Start of a project to when it is in market.

We can help you to stay in the controlled cost area.

We will guide and support you from day one.