Does your business use an API? How do you feel about the rising wave of cyberattacks targeting these essential software intermediaries? Protecting APIs from cyber threats has become a critical priority for businesses of all sizes. These attacks can result in data breaches, service disruptions, and financial losses, making proactive measures essential.
Keep reading to learn everything your business needs to know about API attacks and effective strategies for protecting APIs from cyber threats to safeguard your operations and customer data.
What Is An API?
Application programming interfaces are ways for two or more computer programs to understand each other. They’re like user interfaces (where a person interacts with a site or software) but for computer programs.
Your API works by sharing information between programs—one software makes an API request, and the other sends the requested information through the same channel.
What Makes Your Business’ APIs Vulnerable?
How can businesses protect themselves from API security vulnerabilities? What makes an API vulnerable?
The biggest risk of using an API is the potential transmission of sensitive information that your business should rather be protecting, such as:
- Passwords
- Financial information
- Medical histories
Without a secure API, cyber attackers may hijack this information.
The Problem of Rising API Attacks on Businesses
Businesses of all sizes have seen a significant increase in cyber attackers using API vulnerabilities to obtain their company’s critical information. As a result, protecting APIs has become more critical than ever.
In 2023, API attacks comprised 27% of all infiltrations, marking a 10% increase from the previous year. Moreover, these attacks most frequently targeted a user’s account in an ATO (account takeover). Additionally, financial information emerged as a prominent target for API-based attacks.
Consequently, attackers are now using increasingly complicated methods to bypass API security, which necessitates improved API development to mitigate these rising threats. At the same time, businesses are automating their API requests at an unprecedented rate. One source estimates that these requests have reached 1.5 billion annually. However, this surge in automation also comes with a greater likelihood of hackers accessing your organization’s or customers’ sensitive information.
Protecting Your Business From API Attacks
Do you use an API for your business? Don’t worry; you can incorporate several best practices to secure your information.
Don’t Delay in Securing Your API Software at Work
API attacks can happen at any time. Therefore, taking immediate action is crucial to help your business avoid the serious consequences of a successful API breach. However, solutions like retraining your employees or implementing defensive software may take days or even weeks to fully implement. Thus, it’s important to begin right now if you can.
To get started, focus on something as simple as emailing your employees or IT team. In this way, you can make security measures a top priority quickly and effectively.
Improve Your Business Security Tools and Standard Operating Procedures
Businesses can also protect themselves from API security vulnerabilities by using tools like OAuth or JWT to transmit data securely. For instance, these methods do not rely on passwords to send and receive requests, making them safer against attacks.
Furthermore, you should confirm that your API key remains private at all times. Unfortunately, accidentally enabling public access to these security measures is a leading cause of disastrous API attacks.
As a result, it’s crucial for business owners to understand how API dependence impacts their organization’s integrity. To ensure safety, protect your business by implementing these measures or seek professional help to set them up correctly.
Used with permission from Article Aggregator