Fortinet predicts cyber threat actors to exploit approximately 20 billion internet of things-based endpoint devices in order to perform attacks on cloud environments as well as obtain money from victims through ransomware in 2017.
The threat research team under the company’s FortiGuard Labs expects consumers, vendors and industry groups to call for the implementation of security standards that aim to hold IoT device manufacturers accountable for security breaches, Fortinet said Monday.
“The need for accountability at multiple levels is urgent and real affecting vendors, governments, and consumers alike,“ said Derek Manky, global security strategist at Fortinet.
“Without swift action, there is a real risk of disrupting the progress of the global digital economy,“ Manky added.
The report forecasts cyber criminals to use autonomous, “human-like“ malware to perform cyber attacks as well as target building automation and management systems in the coming year.
Fortinet also cited the potential risks posed by the shortage in cyber professionals to countries and organizations that seek to operate in the digital economy.