Cyberattacks targeting application programming interfaces are on the rise, posing significant threats to businesses. A report reveals that 84 percent of organizations experienced API security incidents in the past year, while only 27 percent of IT and cybersecurity leaders knew which APIs expose sensitive data. The average cost to resolve API breaches reached $591,400 in the U.S., with financial services sectors facing even higher expenses at $832,800. APIs play a vital role in modern software development by enabling seamless data exchange, but their widespread use makes them attractive targets for cybercriminals. The growing integration of artificial intelligence applications further increases API vulnerabilities.
Managing API security remains a major challenge for companies, with many struggling to maintain an accurate inventory of their APIs. Hard-coded API credentials and lack of visibility contribute to security risks. Experts recommend businesses implement API gateways, maintain updated inventories, and adopt layered security approaches across the software development lifecycle. Regular staff training can also enhance API protection by aligning developers and security teams. Companies that monitor API behavior and proactively identify vulnerabilities can strengthen their cybersecurity posture in the face of rising threats.
