The Internet of Things (IoT) features a new paradigm, where smart devices will be interconnected through the internet. The concept is already in use today, but it is anticipated that over the next several years the number of devices will grow rapidly. However, there are still open problems and challenges which need to be adequately addressed before the concept can live to its full potential. These topics also include security and privacy, as well as related concepts. Since smart devices that are part of the IoT gather sensitive data (e.g. location data, patient data, etc.) both security and privacy are issues, which the research community tends to focus on. In this chapter we present an overview of the aspects of security and privacy related to IoT, but also highlight the challenges and open problems as well as related concepts and technologies.