Application Programming Interface (API) is considered the unsung hero of the digital revolution. APIs are able to tie together various software components to create a better user experience. On the other hand, in providing a direct path to the backend database, APIs are also easy targets for cyber threats. That’s why API monitoring is needed. 

The more people use APIs, the more cyber threats that may occur. Many global companies have experienced API security issues in company operations. Why exactly are API threats dangerous and what are the most severe forms of threats? Also check out how to mitigate it below!

How Severe is the API Threat?

Today, APIs are key for many companies. According to Gartner’s concept, APIs are a concept where companies are supported to divide their applications into several Packaged Business Capabilities (PBCs).

This is why most leaders in global IT teams agree that successful API deployment is critical to future revenue and growth. However, the growing number of APIs and their distribution across different architectures and teams is a new source of concern. 

In large enterprises, there may be tens or even hundreds of thousands of APIs interconnecting with their customers and partners. Even mid-sized companies may have thousands of interconnected APIs. API security is very important so that performance continues to run well and customers remain satisfied with the company’s services. 

What is the Impact of API Threats on Companies?

The impact of API threats is often far from theoretical. Some examples that occurred in 2023 due to API threats are:

  • The company T-Mobile USA admitted that as many as 37 million of their customers had their personal information accessed by cyber threats via APIs. 
  • Booking.com implemented Misconfigured Open Authorization (OAuth). Because of this, it may have caused a very serious user account takeover attack on its site. 

So, it’s not just the company’s reputation and profits that are at risk due to API threats. But API threats also risk delaying very important business projects. 

The Biggest API Risk

There are literally thousands of ways for hackers to exploit and abuse APIs. But there are 3 biggest risks that are often used as API threats to various companies. Here’s a list of the three:

1. Broken Object Level Authorization (BOLA)

BOLA occurs when an API is unable to recognize and verify whether a requestor is entitled to access an object. This can cause various things that are very detrimental to the company, ranging from theft, modification, and the worst is data deletion. 

2. Broken Authentication

Broken authentication occurs when authentication protections are missing and/or incorrectly implemented. API authentication can be complex and confusing for many developers, who may also have misconceptions about how to implement it. These authentication mechanisms can be exposed to anyone, making authentication an attractive target for attackers. 

API endpoints responsible for authentication should be treated differently from other endpoints, meaning their protection should be enhanced. Whatever authentication mechanism is used by the developer, it must match the relevant attack vectors. 

3. Broken Object Property Level Authorization (BOPLA)

BOPLA occurs when an attacker is able to read object properties or change property values that they are not authorized to access. API endpoints are vulnerable if they expose object properties that are considered sensitive (e.g. overexposure of data), or if users are allowed to change, add, or delete sensitive object property values. 

How to Mitigate API Threats

Given how much a company has at stake due to API security, it’s important to build an API security and API strategy from the start. This means companies must understand all of their locations and implement tools and techniques to manage endpoint authentication. In addition, companies must secure network communications, mitigate common bugs, and address the threat of malicious bots. 

Here are some ways companies can mitigate API threats:

  • Improve API governance by following an API-centric application development model. That way, visibility and control remain with the company. 
  • Use API monitoring services to eliminate problems with APIs in the company and understand all API locations. In addition, this service can provide info on whether the API has vulnerabilities. 
  • Add a Web Application Firewall (WAF) to improve the security of the enterprise gateway, blocking malicious traffic, including DDos. The use of a WAF can also block exploit attempts. 
  • Encrypt all data that passes through the API, so it cannot be threatened or breached by hackers. 
  • Apply rate limiting to limit how often the API can be used. This can also reduce the threat of DDoS attacks and other unwanted spikes. 

These are the biggest API threats and some ways to mitigate them. Cyber threats will always exist and continue to evolve, which is why API monitoring is so important. Companies need to choose a high-quality API monitoring service, such as Netmonk. With its flagship product, Netmonk Prime, there is monitoring for web/API, network, and server in one application!

Netmonk Prime has been used in various large companies in Indonesia, such as Telkom Indonesia, IndiHome, IndiBox, and many more. Just visit the Netmonk website for more information and how to use the service.