In today's digital landscape, Application Programming Interfaces (APIs) have become the cornerstone of modern software architecture. They're the invisible threads weaving together our digital experiences, from mobile banking to smart home devices. For C-suite executives, particularly CTOs, CIOs, and CISOs, understanding and securing APIs is no longer optional—it's a strategic imperative that directly impacts business resilience, innovation capability, and competitive advantage.

APIs now dominate Internet traffic, comprising over 57% of all dynamic HTTP traffic. APIs enable rapid innovation, enhanced customer experiences, and improved business efficiency. However, this API-centric world presents significant security challenges. APIs are numerous, data-rich, and complex to secure, making them attractive targets for attackers.

The rise of APIs brings both unprecedented opportunities and unique security challenges. As organizations navigate this landscape, success hinges on balancing innovation with robust, API-specific security measures, particularly when addressing the hidden dangers of "shadow APIs."

The prevalence of "shadow APIs" – those unknown to or unmanaged by an organization – is a pressing issue in API security. Research reveals that machine learning models discover 30.7% more API endpoints than organizations self-reported. This creates significant security blind spots and regulatory compliance risks.

The strategic implication is clear: You can't protect what you don't know exists. Lack of API visibility can lead to unexpected data exposures and security breaches, underscoring the critical need for comprehensive API discovery and management processes.

As APIs become increasingly central to business operations, they've also become prime targets for cybercriminals. Here are 4 critical threats to the security of APIs:

Broken object-level authorization (BOLA): BOLA has emerged as a significant concern in the API security landscape. This type of attack manipulates API calls to access data they shouldn't have permission to see, exploiting vulnerabilities in the API's authorization mechanisms. The real-world impact of BOLA attacks can be severe, as evidenced by a 2019 incident where a BOLA vulnerability in the U.S. Postal Service API led to the exposure of account details for 60 million users.

Injection attacks: In these attacks, malicious actors insert harmful code into API requests to manipulate backend systems, potentially gaining unauthorized access or compromising data integrity. In 2023, injection attacks, including SQL injection and cross-site scripting, were among the top API threats mitigated.

Distributed denial of service (DDoS) attacks: DDoS overwhelms API endpoints with a flood of traffic, rendering them unavailable and potentially causing significant business disruptions. The strategic importance of DDoS protection is underscored the observation that this was the #1 API mitigation method for Cloudflare customers.

Credential stuffing and brute force attacks: These attacks involve automated attempts to gain unauthorized access using stolen or guessed credentials. The automated nature of these attacks means they can be conducted at scale, potentially compromising numerous accounts in a short period.

APIs present unique security challenges requiring strategic attention. Understanding these challenges is crucial for informed decision-making on resource allocation, risk management, and long-term technology strategies in an API-centric business environment. Addressing these key challenges effectively can protect digital assets while ensuring the reliability, compliance, and scalability of API-driven services.

Rate limiting and DDoS protection challenges: Data indicates that the 429 "Too Many Requests" error was the most frequent API error, accounting for 51.6% of all API errors observed. Without proper protections in place, a successful DDoS attack targeting critical APIs can bring entire business operations to a standstill, representing a significant business risk.

Authentication and authorization complexities: The 401 "Unauthorized" error was the fourth most common API error encountered. This highlights a critical consideration: Robust authentication and authorization are foundational to API security. However, the implementation of these security measures must be carefully balanced to prevent unauthorized access while avoiding unnecessary friction for legitimate users.

Data exposure risks: APIs often handle sensitive data directly, making proper data handling not just a security concern but a regulatory imperative. This is particularly critical in highly regulated industries such as healthcare and finance. With comprehensive data protection laws like GDPR and CCPA, the consequences of data mishandling through APIs can be severe, including hefty financial penalties and significant reputational damage.

To address the critical nature of API security in modern business, executives should consider these 4 comprehensive strategies to strengthen security, drive innovation, and maintain a competitive edge.

Implement a "Positive security" model: Significantly enhance your API security posture by defining precise schemas for each API, specifying allowed methods, parameters, and data types. By only allowing traffic that conforms to these predefined schemas, you create a robust defense mechanism. The system automatically blocks or flags any requests that deviate from the schema, providing an additional layer of protection against zero-day vulnerabilities and novel attack vectors.

Leverage machine learning for API discovery and threat detection: Stay ahead of potential security risks by continuously scanning the digital environment to identify and catalog all API endpoints, detect changes in API behavior or structure, establish behavioral baselines, and alert on anomalies in real time. While implementing ML-based security requires initial investment, it can significantly reduce long-term security costs and risks by automating complex security tasks and enabling rapid response to potential threats.

Foster collaboration between security and development teams: Create a culture of security-aware development. Implementing "security champions" programs, integrating automated security testing into CI/CD pipelines, conducting regular joint security reviews, and providing ongoing API security training for developers can significantly improve an organization's security posture. This approach not only enhances security but also speeds up development by catching and fixing issues early in the process.

Adopt a comprehensive Web Application and API Protection (WAAP) strategy: Key components of this multi-layered security for APIs include API Discovery and Schema Validation, Advanced Rate Limiting and DDoS Protection, Bot Management, Runtime Application Self-Protection (RASP), and Continuous Security Posture Assessment. This approach offers comprehensive protection against a wide range of API threats while providing the flexibility to adapt to evolving attack vectors.

The rapidly evolving landscape presents both opportunities and challenges for API security. These 4 key trends are shaping the future — by proactively addressing them, organizations can strengthen their long-term API security strategy and maintain resilience against evolving threats.

Prepare for the impact of quantum computing: To prepare, organizations should explore post-quantum cryptography options and develop a comprehensive plan for upgrading encryption across all APIs. This forward-thinking approach will help protect sensitive data and maintain the integrity of API communications in the post-quantum era.

Adapt to the rise of GraphQL and gRPC: As GraphQL and gRPC rise in popularity, implementing specialized security measures becomes crucial. For GraphQL, focus on query depth limiting and introspection controls. When dealing with gRPC, prioritize securing the underlying HTTP/2 protocol and implement strong authentication mechanisms.

Embrace Zero Trust architectures for API access: Utilizing Zero Trust for secure access to APIs enhances an organization’s overall security strategy. This involves implementing strong identity verification for every API access attempt, utilizing micro-segmentation techniques to limit the potential impact of breaches, and establishing continuous monitoring and logging of all API interactions.

Prepare for increased regulatory scrutiny: Organizations should conduct comprehensive audits of APIs handling regulated data, implement robust logging and monitoring systems, and stay informed about emerging API-specific regulations and standards.

In the API-centric digital world, robust API security is not just a technical necessity—it's a business imperative. By adopting a strategic, proactive approach to API security, executives can not only mitigate risk but also enable faster, more secure innovation.

Effective API security is an ongoing journey, not a destination. It requires continuous attention, adaptation, and investment. By leveraging advanced solutions and best practices, organizations can stay ahead of threats while unlocking the full potential of their digital assets.

In this new frontier of digital business, those who master API security will not just survive—they'll thrive, turning potential vulnerabilities into a competitive advantage. As an executive, your leadership in prioritizing and strategically approaching API security can be the difference between market leadership and digital obsolescence.

*This article is part of a **series** on the latest trends and topics impacting today’s technology decision-makers.*

Learn more about the current state of API security, emerging threats, and best practices for protection in the *2024 API Security and Management Report*.

VB Malik — @vaibhavmalik1

Partner Solutions Architect, Cloudflare

After reading this article you will be able to understand:

APIs comprise over 57% of total HTTP traffic

Shadow APIs leave organizations with significant visibility challenges

Strategies for how to use API security as a business enabler