Lessons to be learned from the recent rash of API security incidents is that you need to adopt a Shield Right while you Shift Left strategy to protect yourself from API security threats.
APIs power the digital experiences of consumers today. However, as API use increases, so do security risks because APIs are easy to deploy but hard to control.
Companies are rapidly adopting APIs to improve platform integration, connectivity, and efficiency and to enable digital innovation projects. Over the last few years, API attacks have increased massively, and API security concerns continue to impede innovations.
The lack of API security is responsible for every 1 in 13 cybersecurity incidents, with annual global losses of up to $75 billion and 57% affecting American businesses.
Shadow API is the greatest API security risk, with 31% of malicious requests targeting unknown, unmanaged, or unprotected APIs, according to the Cequence API protection report.
With the increasing adoption of cloud computing, the usage of APIs has grown exponentially, making API security a top priority for organizations that want to protect their cloud-based applications.
Report found that API security was a major concern for businesses as malicious traffic grew triple that of legitimate sources and causing delays in application rollout.
One would hope that credit bureau Experian had learned a lesson about data leaks but the agency has a new API security vulnerability that appears to have leaked the credit scores of nearly every American that has one.
Updated FFIEC compliance guidelines specifically delineate APIs as a distinct attack surface, shedding light on the amplified risks they introduce. Financial institutions might be on a tighter compliance timeline than anticipated to prioritize fortifying their API security.
APIs are the backbone of numerous popular web services because of their utility, ubiquity, and increasing architectural choices. Regardless of the API architecture chosen, there are shared factors that make them all vulnerable.