Original Post: The Rising Cost of Vulnerable APIs and Bot Attacks – A $186 Billion Wake-Up Call for Businesses
Imperva, in collaboration with Marsh McLennan Cyber Risk Intelligence Center, examined the financial implications of bot attacks and API insecurity on organizations. Their report, "The Economic Impact of API and Bot Attacks," analyzed over 161,000 cybersecurity incidents and estimated an annual economic burden of up to $186 billion due to these threats. Key findings include:
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API and Bot-Related Security Incidents: There’s a sharp increase in such incidents, with a significant rise in bot-related incidents and substantial financial losses from insecure APIs, amounting to up to $87 billion annually.
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Impact on Large Enterprises: Organizations with revenues over $1 billion face higher risks and are more prone to automated API abuse by bots.
- Additional Insights:
- Expanding Attack Surface: The proliferation of APIs and inexperienced developers have escalated losses from insecure APIs.
- Economic Impact of Bots: Easier access to attack tools and generative AI models have driven up losses from bot attacks to $116 billion annually.
- Global Vulnerability: Countries like Brazil, France, Japan, and India face high percentages of security incidents, with the U.S. accounting for 66% of reported incidents.
The report underscores the growing threat as API reliance increases, emphasizing the need for proactive security measures. Imperva offers solutions like Advanced Bot Protection and API Security to help organizations mitigate these risks. For more information, readers are encouraged to download the report.
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