A recent study commissioned by Fastly [2] [3] [5] [6], Inc highlights the cybersecurity risks faced by companies in the digital economy, particularly due to the rapid growth of APIs [4].
Description
Despite the critical importance of API security [1], a majority of commercial decision-makers are not prioritizing advanced security measures [6]. In fact, 84% of companies in the DACH region admit to lacking advanced API security, with budget constraints and a lack of expertise cited as main reasons [1] [4] [7]. Issues with API security have led to delays in implementing new applications for 79% of companies surveyed [4]. Common malicious automated bot attacks targeting APIs include credential stuffing, abuse of business logic [4], and DDoS attacks [4] [7]. Companies are struggling to detect API attacks due to the overwhelming volume of notifications from legacy security solutions [6]. While only a small percentage of companies currently prioritize AI-powered cybersecurity systems for API security, a majority anticipate a significant impact from generative AI in the next 2-3 years. Sector-specific and regional differences in API vulnerabilities and security measures are evident [4], with heavily-regulated sectors like financial services showing low prioritization of API security [6]. C-suite and compliance experts prioritize API security more than in-house security specialists [2] [3] [5]. Regional variations were observed [6], with the UK rating API security higher than the cross-border average [6]. However, 79% of UK participants reported that their API security was not advanced [6], leaving them vulnerable to cyber threats. The study emphasizes the importance of addressing API security risks to prevent operational disruptions and reputational damage [4]. Fastly’s edge cloud platform aims to help organizations deliver secure online experiences through edge compute [2] [3], delivery [2] [3] [5], security [1] [2] [3] [4] [5] [6] [7], and observability offerings [3].
Conclusion
It is crucial for companies to address API security risks to prevent operational disruptions and reputational damage [4]. By prioritizing advanced security measures and investing in AI-powered cybersecurity systems, organizations can better protect themselves from malicious attacks and ensure the security of their digital assets in the evolving digital landscape.
References
[1] https://www.infosecurity-magazine.com/news/fastly-survey-api-security-looming/
[2] https://www.stocktitan.net/news/FSLY/rampant-api-growth-causing-cybersecurity-risks-for-8si37f49nkwq.html
[3] https://stockhouse.com/news/press-releases/2024/03/20/rampant-api-growth-causing-cybersecurity-risks-for-businesses
[4] https://www.presseportal.de/pm/157185/5739320
[5] https://www.finanznachrichten.de/nachrichten-2024-03/61727770-fastly-inc-rampant-api-growth-causing-cybersecurity-risks-for-businesses-004.htm
[6] https://ai-techpark.com/rampant-api-growth-causing-cybersecurity-risks-for-businesses/
[7] https://www.braunschweiger-zeitung.de/wirtschaft/presseportal/article241928042/Fastly-Studie-Rasantes-API-Wachstum-schafft-Cybersicherheitsrisiken-fuer-Unternehmen.html
