Verizon Business 2024 Mobile Security Index Highlights Rising Mobile and IoT Security Threats

Verizon Business’s 2024 Mobile Security Index (MSI) report sheds light on escalating risks associated with mobile and IoT device security. This year’s report, now in its seventh edition, expands its focus from employee mobile use to encompass IoT devices and sensors, reflecting the increasing complexity of security challenges in the era of remote work.

The report reveals that 80% of organizations view mobile devices as crucial to their operations, with 95% actively using IoT devices. However, this dependence also heightens security risks, particularly in critical infrastructure sectors, where 96% of respondents use IoT devices, and over 50% have faced significant security incidents, including data loss and system downtime.

Phil Hochmuth, VP of Enterprise Mobility at IDC, notes that the growing reliance on personal mobile devices for work is pushing employers to transition from BYOD (bring-your-own-device) models to company-provided devices to better safeguard infrastructure. He also recommends adopting robust security frameworks like Zero Trust and NIST CSF 2.0, and adhering to regulations such as the EU’s NIS2 Directive.

The report also highlights concerns about AI-assisted attacks, with 77% of respondents believing such threats, including deepfakes and SMS phishing, are likely to be successful. Despite these risks, 88% of critical infrastructure respondents recognize the need for AI-enhanced cybersecurity solutions.

As IoT devices proliferate, cybersecurity strategies must evolve to address new threats. TJ Fox, SVP of Industrial IoT and Automotive at Verizon Business, emphasizes that the expansion of IoT technology requires advanced security measures to protect increasingly complex networks.

The 2024 MSI underscores the urgency for robust security measures as mobile and IoT threats rise. Consequently, 84% of respondents have increased their mobile security spending over the past year, with 89% of critical infrastructure respondents planning further investments. The report includes insights from Verizon’s partners, such as Ivanti, Lookout, and Jam, and encourages organizations to implement comprehensive security solutions, ongoing employee education, and advanced threat detection.

For more details on enhancing your organization’s security practices, consult the Verizon Business 2024 Mobile Security Index.