Israeli startup looks to secure connected cars from hackers

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Israeli startup Karamba Security unveiled a security system for connected cars this past week, along with announcing $2.5 million in funding from capital venture firms. The system helps ensure that hackers can’t run malicious code on connected car systems like infotainment systems, GPS tracking devices, and roadside assistance programs like OnStar, according to CNBC.

Karamba’s system basically shuts down any code that was not created by the manufacturer that tries to run on a system. Hackers can use infotainment and GPS systems to gain entry into a vehicle’s critical systems that control functions like steering and transmission. Karamba is aiming to partner with companies that build and sell these connected systems to auto manufacturers to get its technology into their products.

CNBC noted that Karamba will face competition from cybersecurity incumbents like Symantec, which is also working on a security system for connected cars. However, connected cars have many entry points that hackers can leverage to hack cars, and that number of entry points will rise as cars become more connected and autonomous. Defending all of those entry points will likely require a significant investment by automakers and their suppliers, creating a market for connected car security solutions that is big enough for both new startups and older incumbents to thrive.

The problems with connected car security were shown last summer when security researchers took control of the steering and transmission of a Jeep Cherokee traveling 70 miles per hour on the highway.

Hacks of this type help draw media attention to the dangers involved with vulnerable IoT devices, but they don't illustrate all the ways that hackers can use these vulnerabilities in the real world. Hackers could potentially crash a compromised car, but they are more likely to exploit IoT devices to gain entry to corporate and government networks and databases.

Jonathan Camhi of BI Intelligence, Business Insider's premium research service, has compiled a detailed report on IoT Security that examines how vulnerable IoT devices will create new opportunities for different types of hackers. We also forecast the market for solutions that can help secure IoT devices, and explain how different security measures can be used to protect these devices against hackers.

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Here are some of the key takeaways from the report:

• Research has repeatedly shown that many IoT device manufacturers and service providers are failing to implement common security measures in their products.
• Hackers could exploit these new devices to conduct data breaches, corporate or government espionage, and damage critical infrastructure like electrical grids.
• Investment in securing IoT devices will increase five-fold over the next five years as adoption of these devices picks up.
• Traditional IT security practices like network monitoring and segmentation will become even more critical as businesses and governments deploy IoT devices.

In full, the report:

• Explains why IoT devices often lack basic security measures like properly encrypting communications.
• Forecasts the market for solutions that help secure IoT devices against attacks.
• Examines how different types of hackers could exploit IoT devices for financial gain, media attention, or to further a geopolitical cause.
• Explains how organizations can secure IoT devices at both the device and network level.

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The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of IoT security.