Protecting Financial Services APIs From Automated Attacks

This solution brief outlines the challenges faced by financial services organizations regarding API security and automated attacks. It details the prevalence of API-based account takeovers (ATOs), highlighting that financial services are significantly more likely to be targeted by cyberattacks. The document describes various attack methods, including the exploitation of shadow APIs and coding errors, which can lead to significant financial losses and operational disruptions. It emphasizes the inadequacies of traditional API security measures, which often fail to provide comprehensive protection due to their reliance on outdated technologies. The brief presents the Cequence Unified API Protection solution, which aims to secure APIs through a full-spectrum approach that includes API discovery, compliance monitoring, ongoing testing, and real-time threat detection and prevention. The methodology is designed to address multiple types of risks throughout the API protection lifecycle, ultimately enhancing the security posture of financial services organizations.