How Vulnerable APIs and Bots Are Putting Businesses at Risk
APIs (Application Programming Interfaces) and automation have become the foundation of modern businesses, enabling seamless integration between systems, driving innovation, and allowing companies to scale their operations more efficiently. Yet, as their adoption grows, so do the associated risks. Companies need to be especially aware of the emerging threats posed by vulnerable APIs and bot attacks, costing businesses up to $186 billion annually worldwide.
?? In this article we will explain what these threats mean for your organization and how to implement strategies to protect your infrastructure and sensitive data.
??? Vulnerable APIs: The Growing Attack Surface
APIs are the backbone of modern business operations, connecting applications and enabling seamless data exchange. Whether it’s powering your CRM, eCommerce platform, or mobile app, APIs are essential. However, with this widespread adoption comes a significant security challenge. According to data from Imperva Threat Research, the average enterprise manages around 613 API endpoints in production, and this number is expected to grow.
As APIs are proliferating rapidly, they also expand the potential area of attack for cybercriminals. Security incidents involving APIs have surged dramatically, increasing by 40% in 2022 and another 9% in 2023.?The primary risk is that APIs often serve as direct gateways to an organization's most sensitive data and core infrastructure.?When poorly secured, they can be exploited. According to the report, API insecurity accounts for as much as $87 billion in annual losses.
Why APIs Are So Vulnerable
Several factors contribute to API vulnerabilities:
For SaaS companies, where APIs are integral to the product offering and service delivery, these gaps can result in a loss of customer trust and a tarnished brand reputation.
?? Bot Attacks: A Constant and Evolving Threat
Parallel to security challenges with APIs, bot attacks have emerged as a significant concern, costing businesses up to $116 billion annually. Bots—automated scripts designed for specific tasks—can be used for various malicious purposes, including credential stuffing, web scraping, and distributed denial-of-service (DDoS) attacks.
Recent studies reveal that bot-related security incidents surged by 88% in 2022, with an additional 28% increase in 2023. This rise is partially due to the widespread availability of generative AI and other attack tools that allow even low-skilled attackers to execute complex bot operations.
Imperva’s research highlights that automated threats were responsible for 30% of all API attacks last year. 17% specifically linked to bots manipulating business logic vulnerabilities.
As businesses increasingly rely on APIs to access and manage sensitive data, these endpoints have emerged as prime targets for bot operators. As of now, the fact that APIs are getting targeted by automated bots, costs businesses up to $17.9 billion annually. With bots becoming more advanced, attackers are leveraging them to manipulate API business logic, evade security defenses, and extract valuable data, making it increasingly difficult for organizations to detect and counter these threats effectively.
?? Large Enterprises: A Higher Risk Profile
For large enterprises, especially those with annual revenues exceeding $1 billion, the risk is even greater. These organizations manage more complex digital infrastructures with numerous APIs spread across various departments. The more extensive the system, the higher the number of potential vulnerabilities, such as shadow APIs (unmonitored or undocumented APIs) and deprecated endpoints.
The report highlights that large enterprises are 2-3 times more likely to experience API and bot attacks than smaller businesses. This elevated risk underscores the need for robust security measures and a proactive approach to threat mitigation.
?? Proactive Strategies to Combat API and Bot Threats
To defend against these evolving threats, B2B SaaS companies should adopt a proactive and comprehensive security strategy. Here are some critical steps to consider:
1. Cross-Functional Collaboration
Encourage close collaboration between your security and development teams. Embedding security into the API development lifecycle ensures that vulnerabilities are identified and addressed early on. Additionally, involving marketing, IT, and customer experience teams can help detect and mitigate bot attacks more effectively.
2. Comprehensive API Discovery and Monitoring
Regularly audit your API inventory to identify shadow or deprecated APIs that may be exposing your systems to risks. Continuous monitoring can help catch security issues before they become critical vulnerabilities.
3. Integrated Security Solutions
Combine API security with advanced bot management solutions to detect automated threats in real time. This integrated approach allows for quicker identification of attack patterns, enabling a faster response to mitigate risks before they lead to data breaches or service disruptions.
Vulnerable APIs and sophisticated bots are no longer just IT problems; they are business-critical issues that can lead to financial losses, customer churn, and reputational damage if left unaddressed. For companies aiming to lead in innovation while protecting their assets, implementing a robust security framework is not just advisable—it’s essential.
By staying ahead of these threats and prioritizing security, companies can not only protect their data but also build stronger, more resilient customer relationships. As APIs continue to drive digital transformation, making security a cornerstone of your strategy will be key to sustainable growth and success in a highly competitive market.
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