Most businesses vulnerable to cyber attacks through firmware, study shows

Most businesses do not have comprehensive programmes to tackle firmware security risks, according to a report by global business technology and cyber security association Isaca.

This is despite the fact that organisations are increasingly aware of the growing importance of firmware security as connected devices for a growing part of organisations’ hardware footprint, which includes devices that make up the internet of things (IoT).

Isaca’s Firmware security risks and mitigation, enterprise practices and challenges report highlights the importance of establishing robust security management controls and auditing practices for firmware, the hard-coded software frequently stored in read-only memory (ROM).

The research, which was based on a survey of 750 professionals with cyber security responsibilities in North America, Europe and Asia, demonstrates that adopting a security-first approach to how businesses view hardware lifecycle management, rather than treating it as a purely operational concern, is essential to mitigating security risk.

“We are seeing more that firmware security is no longer a theoretical problem,” said Justine Bone, director and CEO of healthcare security firm MedSec, who will discuss the topic and present the findings of the report at all three of Isaca’s Cybersecurity Nexus (CSX) conferences.

“The evidence is showing us attackers targeting firmware,” she said. “Many breaches and vulnerability discoveries these days can be attributed to firmware problems.”

Although solutions are emerging, most enterprise environments remain unprepared. “While it is clear that knowledge is power in this instance, it is also evident from this research that company culture and overall attitude to security is a major contribution to vulnerability,” said Bone.

More than half (52%) of the study’s participants who place a priority on security within hardware lifecycle management report at least one incident of malware-infected firmware being introduced into a company system, with 17% of these incidents having a material impact.

In contrast, those that do not prioritise security in the hardware lifecycle process have a high rate of unknown malware occurrences (73%). This indicates many vulnerabilities remain undetected and unpatched, creating security risks.

This lack of knowledge is having an impact on confidence too, with 71% of respondents in this category (low security priority) feeling unprepared to deal with a cyber attack.

To be able to address these weaknesses, the report said organisations need to foster increasing co-operation and communication between IT departments and audit professionals, and establish robust controls for hardware lifecycle management. The study shows that acting on feedback from the auditing teams is key to mitigating risk.