API Security Risks and Challenges

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API Security Attacks can be Ruthless and Relentless

90% of applications will have more surface area for the attack in the form of exposed API rather than the user interface, suggests Gartner. This has become a huge security concern for financial institutions and fintech companies, both of which must maintain competitiveness and customers’ trust to thrive.

Some of the most critical API security risks include insufficient logging and monitoring, broken object level, excessive data exposure, user- and function-level authorization, and security misconfiguration.

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Types of API Security Incidents

  • Data Exfiltration: Vulnerable APIs can be exposed to gain access to sensitive data of customer accounts and other PII.
  • Account Takeover (ATO): Attackers can target authenticated APIs to takeover customer accounts. ATOs can appear in the form of brute force attacks and credential stuffing.
  • Service Disruption: DDoS attacks on business logic tend to slow down services.

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