This report discusses the increasing role of ICT and the growing popularity of IoT devices, highlighting the associated security and privacy risks. It argues that security and privacy are the most at-risk principles in society due to the proliferation of IoT. The report identifies key risks such as ensuring data integrity, breaches of private data, protecting data from corporations, limited encrypting capabilities, handling privacy issues, and managing security updates. Real-world examples, like the VTech Electronics breach and the Mirai Botnet attack, are used to illustrate the potential impact. The report concludes that as IoT adoption grows, so will the need for improved security measures and stricter legal frameworks to protect user privacy.