Economic Impact of API and Bot Attacks 2024

This technical report analyzes the economic impact of API and bot attacks, focusing on the rising threats associated with these vulnerabilities in the digital landscape. The study, conducted by Imperva in collaboration with the Marsh McLennan Cyber Risk Intelligence Center, examines over 161,000 unique cybersecurity incidents to quantify the financial repercussions of API insecurity and bot-related attacks. It highlights that companies with revenues exceeding USD 100 billion are particularly vulnerable, with API-related incidents constituting up to 18% of their total cyber incidents. The report outlines the significant financial losses attributed to these attacks, estimating annual global losses from API-related incidents to be between USD 35-87 billion and from bot-related incidents to be between USD 68-116 billion. The findings emphasize the critical need for robust API security measures and bot management strategies, especially as organizations increasingly rely on APIs for their operations. The report also discusses trends in API usage and the correlation between company size and the frequency of API-related incidents.