To conclude, here is a look at what IoT players can do to detect and mitigate threats:
1) Secure the device manufacturing process so that the devices cannot be manipulated or embedded with fraudulent software.
2) Secure the IoT devices - both hardware and software - so that they cannot be breached. In case of a breach or suspected tampering, the data should be made unusable.
3) Track and secure the maintenance of IoT devices with best practices and processes to prevent any compromise.
4) Secure the wireless network infrastructure from unauthorized access, malwares and misuse.
5) Secure the IoT Services (including cloud service, cloud application, database) with thorough threat analysis and malware protection.
6) Strengthen Fraud Detection so that information from devices can be trusted.
7) Strike a balance between monetization and security. Adopt a constantly vigilant and adaptive mindset.
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