# API Security in 2024: Why It's Time to Act Now *Based on Akamai’s 2024 API Security Impact Study* 🔗 [Read the full study](https://www.akamai.com/resources/white-paper/api-security-study-2024) --- ## 🚨 Executive Summary In its third year, Akamai’s *API Security Impact Study 2024* offers a wake-up call: API attacks are not just rising — they are having *serious financial and human consequences*. Based on a survey of 1,207 IT and security leaders across the U.S., U.K., and Germany, the study reveals a growing disconnect between awareness of API threats and the actual prioritization of API protection strategies. --- ## 🔍 Key Findings ### 📈 API Attacks Are Increasing — Fast - **108 billion API attacks** occurred from Jan 2023 to June 2024. - Web app + API attacks surged **49%** YoY (Q1 2023 to Q1 2024). - **84% of organizations** experienced an API security incident in the past 12 months. ### 💸 Financial Toll - Average remediation cost: - 🇺🇸 U.S.: $591,404 (C-suite average: $943,162) - 🇬🇧 U.K.: £420,103 - 🇩🇪 Germany: €403,453 - Financial services suffered the highest average industry cost: **$832,801**. ### 😰 Human Impact - **#1 Impact: Stress on teams**, surpassing even financial loss. - CISOs reported reputational damage with senior leadership. - CIOs cited stress and pressure on their departments. --- ## ⚠️ Visibility & Testing Are Critically Lacking ### API Inventory Status - Only **27%** of organizations have a full inventory *and* know which APIs handle sensitive data — down from 40% in 2023. - Shadow, zombie, rogue, and deprecated APIs remain highly exploitable and often unmanaged. ### Testing Frequency - Real-time testing fell from 18% (2023) to **13% (2024)**. - Daily testing declined to just **13%** of organizations. - Weekly testing is most common — but still under 50%. --- ## 🎯 Why the Disconnect? Despite massive impact, **API security ranks just 9th** among cybersecurity priorities. Teams often face: - Misalignment between C-suite and practitioners. - Overreliance on traditional tools (WAF, firewalls, gateways) that miss API-specific risks. - Poor cross-team communication and no single source of truth for API inventory and risk classification. --- ## 🔧 Steps Toward Better API Security ### 1. **API Discovery & Visibility** - Use automated tools to uncover *all* APIs, including shadow or zombie ones. ### 2. **Invest in Real Testing** - Integrate API security into CI/CD pipelines for shift-left (development) and shift-right (runtime) protection. ### 3. **Documentation & Classification** - Maintain updated records on what each API does and what sensitive data it handles. ### 4. **Runtime Threat Detection** - Monitor for anomalous behaviors and act *before* data is breached. ### 5. **Integrated Response** - Link API security tools to your existing stack (e.g., WAF, WAAP) for active defense. ### 6. **Proactive Threat Hunting** - Use historical analysis + human intelligence to preempt future API threats. --- ## 🔄 Compliance Angle API security is increasingly relevant to evolving regulations, including: - GDPR, HIPAA, PCI DSS v4.0.1 - EU’s NIS2 & DORA - U.S. draft American Privacy Rights Act --- ## ✅ Conclusion API security isn't a niche issue anymore — it’s a *central business risk*. Teams that act now not only reduce costs and regulatory exposure but also: - Improve overall security posture - Reduce stress and burnout - Build trust with leadership and customers > 💡 Ready to level up your API security? Start with discovery and testing. > 🔗 [Explore Akamai’s API Security solutions](https://www.akamai.com/products/api-security)

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API Security in 2024

NikolasHume

API Security in 2024: Why It's Time to Act Now

Based on Akamai’s 2024 API Security Impact Study
🔗 Read the full study

🚨 Executive Summary

In its third year, Akamai’s API Security Impact Study 2024 offers a wake-up call: API attacks are not just rising — they are having serious financial and human consequences. Based on a survey of 1,207 IT and security leaders across the U.S., U.K., and Germany, the study reveals a growing disconnect between awareness of API threats and the actual prioritization of API protection strategies.

🔍 Key Findings

📈 API Attacks Are Increasing — Fast

108 billion API attacks occurred from Jan 2023 to June 2024.
Web app + API attacks surged 49% YoY (Q1 2023 to Q1 2024).
84% of organizations experienced an API security incident in the past 12 months.

💸 Financial Toll

Average remediation cost:
- 🇺🇸 U.S.: $591,404 (C-suite average: $943,162)
- 🇬🇧 U.K.: £420,103
- 🇩🇪 Germany: €403,453
Financial services suffered the highest average industry cost: $832,801.

😰 Human Impact

#1 Impact: Stress on teams, surpassing even financial loss.
CISOs reported reputational damage with senior leadership.
CIOs cited stress and pressure on their departments.

⚠️ Visibility & Testing Are Critically Lacking

API Inventory Status

Only 27% of organizations have a full inventory and know which APIs handle sensitive data — down from 40% in 2023.
Shadow, zombie, rogue, and deprecated APIs remain highly exploitable and often unmanaged.

Testing Frequency

Real-time testing fell from 18% (2023) to 13% (2024).
Daily testing declined to just 13% of organizations.
Weekly testing is most common — but still under 50%.

🎯 Why the Disconnect?

Despite massive impact, API security ranks just 9th among cybersecurity priorities. Teams often face:

Misalignment between C-suite and practitioners.
Overreliance on traditional tools (WAF, firewalls, gateways) that miss API-specific risks.
Poor cross-team communication and no single source of truth for API inventory and risk classification.

🔧 Steps Toward Better API Security

1. API Discovery & Visibility

Use automated tools to uncover all APIs, including shadow or zombie ones.

2. Invest in Real Testing

Integrate API security into CI/CD pipelines for shift-left (development) and shift-right (runtime) protection.

3. Documentation & Classification

Maintain updated records on what each API does and what sensitive data it handles.

4. Runtime Threat Detection

Monitor for anomalous behaviors and act before data is breached.

5. Integrated Response

Link API security tools to your existing stack (e.g., WAF, WAAP) for active defense.

6. Proactive Threat Hunting

Use historical analysis + human intelligence to preempt future API threats.

🔄 Compliance Angle

API security is increasingly relevant to evolving regulations, including:

GDPR, HIPAA, PCI DSS v4.0.1
EU’s NIS2 & DORA
U.S. draft American Privacy Rights Act

✅ Conclusion

API security isn't a niche issue anymore — it’s a central business risk. Teams that act now not only reduce costs and regulatory exposure but also:

Improve overall security posture
Reduce stress and burnout
Build trust with leadership and customers

💡 Ready to level up your API security? Start with discovery and testing.
🔗 Explore Akamai’s API Security solutions

📱

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