Enforcing high-level security policies for Internet of Things

Abstract

IoT is rapidly a developing area, but there are uncertainties about its security and privacy issues. In several IoT services, important data such as personal information are shared between system components. While it may simplify repetitive transactions, keeping the personal information increases the likelihood of identity theft causing direct or indirect damage. This study introduces quantitative analysis based on demand–supply curve for the damage caused by leakages of personal identification information and shows how security investment is decided to adopt high-level security compliance.