It is difficult to top the answer by Antonio, but I'll just mention that the first keynote at MICRO-49, which is about IoT at large and its security and privacy in particular, can be found in youtube and at the MICRO-49 website.
Every single device and sensor in the IoT represents a potential risk. How confident can an organization be that each of these devices have the controls in place to preserve the confidentiality of the data collected and the integrity of the data sent.
2)Trust and data integrity
Corporate systems will be bombarded by data from all manner of connected sensors in the IoT. But how sure can an organization be that the data has not been compromised or interfered with?
Take the example of utility companies automatically collecting readings from customer smart meters. Researchers have already demonstrated that smart meters widely used in Spain, for example, can be hacked to under-report energy use. They were able to spoof messages being sent from the meter to the utility company and send false data. In recent years we have been able to go to a high street store and buy anti-virus protection on a disc or download it straight to our PC. But in the IoT that security capability doesn’t exist in many of the devices that will suddenly become connected.
Security must be built into the design of these devices and systems to create trust in both the hardware and integrity of the data.
3)Data collection, protection, and privacy
The vision for the IoT is to make our everyday lives easier and boost the efficiency and productivity of businesses and employees. The data collected will help us make smarter decisions. But this will also have an impact on privacy expectations. If data collected by connected devices is compromised it will undermine trust in the IoT. We are already seeing consumers place higher expectations on businesses and governments to safeguard their personal information.
May I note that I've enjoyed these superb answers and links! I would like to humbly submit the following link. Although the specific topic is not IOT/Security; the publication introduces aspects of the topic that raise their own security concerns, namely: IONT and nanonetworks.
Also of interest: Department of Homeland Security has released a set of Strategic Principles for Securing the Internet of Things (IoT).