IoT devices have experienced exponential expansion, which has resulted in a revamping of connection and functionality across diverse sectors, including healthcare, manufacturing, and urban management. However, this expansion has created significant security weaknesses, rendering IoT networks appealing targets for a variety of cybercriminals. This paper offers an overview of the security threats inherent in IoT networks, the study categorizes these threats and evaluates feasible solutions to address them, further exploring the impact of these threats on organizational operations and data privacy. Proactive security measures are also examined in detail, including network segmentation, secure device design, encryption, authentication, and access control. By analyzing current security practices and emerging solutions, the paper identifies key areas for improvement and proposes strategic amelioration techniques aimed at enhancing the resilience of IoT networks.