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Internet of Things (IoT) devices represent a user benefit and a security and privacy vulnerability. A Gemalto study revealed only 48% of businesses can even detect a breach affecting an IoT instrument.

Dutch digital security firm Gemalto suggested given the number of connected devices set to exceed 20 billion by 2023, businesses must act quickly to ensure their IoT breach detection is as effective as possible. (According to a Zion market research report, the global IoT in banking and financial services market accounted for $159 million in 2017 and is expected to reach $2.5 billion by 2024).

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Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).

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