Tan said security risks have also been demonstrated with smart televisions, medical equipment, security cameras, routers, trash-cans, baby monitors and traffic systems.
"Essentially there needs to be a two-step approach to mitigate the security risks posed through connected devices," he said. "First, an embedded security software for in-device security can enable devices to filter, as well as prevent proliferation of threats. Secondly from a manufacturer's perspective, major software vendors should figure out how to notify customers and provide patches for vulnerabilities. Manufacture of devices that connect to the Internet need to notify customers of an oncoming security problem and also design user-friendly ways to apply patches."
"Without a doubt, IoT will help users to take the next big leap in technology adoption," said Tan. "It will also have a snowballing effect in the way technology is used in day-to-day business and personal functions- enabling digital lifestyle and, at the same time expanding fertile grounds for cyber-attacks.
With the evolving dimension of the connected world, the discussion is also drifting towards attention to security to reduce possible exploitation," he said. "With the emergence of IoT, the need of the hour is to create a strong framework of policies and regulations to secure the internet enabled infrastructure of government, organisation, household and individuals."
Sign up for CIO Asia eNewsletters.