- With rising security breaches, experts say every organisation should now have an API security strategy.
- They said an API security strategy, aside from protecting their systems will also help businesses in complying with data protection regulations.
- Cybersecurity experts have made a case for all organizations across verticals to develop Application Programming Interface (API) security strategy. They said this is necessary to ensure adequate protection of their systems and prevent breaches.
The experts made the call during a webinar with the theme ‘How CISOs Can Build an API Security Program’, which attracted stakeholders such as Head of IT Security, Product Mobile Developers, CISOs, Security Risk Officers, and Product Managers.
Speaking on the importance of API security for organizations, an Executive Director at Appknox, an enterprise mobile application security solution company, Vaidyanath Balasubramanian, explained that API security can help prevent data breaches by ensuring that only authorized users and applications can access the data, and that data is encrypted during transmission.
- “Protecting sensitive data is important, but if APIs are not secured, cybercriminals can intercept and steal sensitive information, resulting in significant financial and reputational damage to the organization,” he posited.
Also making inputs, Chukwuebuka C. Ume-Ezeoke, Chief Technology Officer at CED Technologies, noted that API security ensures that an organization is compliant with regulations such as General Data Protection Regulation (GDPR), California Consumer Privacy Act (CCPA), Nigerian Data Protection Regulation (NDPR), Kenyan Data Protection Regulation (KDPR) and Health Insurance Portability and Accountability Act (HIPAA) by protecting sensitive data and providing secure access to APIs.
Risk of breaches
Ume-Ezeoke highlighted the risks and consequences of API security breaches including Data Exposure, Business Disruption, Regulatory non-compliance, Reputation damage, and cyberattacks.
He added that by developing an API Security Strategy, organisations need to identify API security requirements, choose an API security architecture, implement API security controls, test and validate API security, ensure compliance, and continuously monitor and improve.
- CISOs always have to balance between enabling and securing the business but achieving that balance has become more difficult in an API-first world where development moves faster than ever before and exposes more sensitive data through an expanding portfolio of APIs – leaving security teams having to play catch-up,” he said.
As more and more businesses are moving their operations online and embracing digital technologies, they increasingly rely on APIs to integrate different systems and services. However, this also means sensitive data is transmitted through APIs, creating potential security risks, which is why securing the APIs has become a major decision for organizations.
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