The IoT means the Internet of Things – the integration of things and systems in the digital world across numerous industries. As has been seen we can opened up an exponential wave of efficiency, automation and innovation in the domain of IoT while at the same time we have exposed an infinite number of privacy and security threats that could severely jeopardize individuals, organizations, or nations. This paper thus critically analyses the status and trends of IoT privacy and security threats focusing more on the most common threats as well as impacts arising from their exploitation. From the analysis of the most reported case studies in this paper, the kind of recent IoT security breaches and the efforts made to address these are revealed. Moreover, the paper provides guidelines on imposing improvements to IoT systems security by persuading the implementation of global and inclusive security that targets prior and emergent threats. At the same time, this work also synthesises the most current advances in the field of IoTs security research, as well as outline specific directions for future research, which is also evidence of the necessity for Iots stakeholders to contin ue the improvement and collaboration to protect the future of IoTs environments.