Financial services increasingly targeted for API-based cyberattacks

Posted: Mon, 11/28/2022 - 6:31pm

A report published Monday by cloud services and CDN (content delivery network) platform Akamai said that the financial services industry is an increasingly popular target for a wide range of cyberattacks, with application and API attacks against the vertical more than tripling in the past year.

APIs are a core part of how financial services firms are changing their operations in the modern era, Akamai said, given the growing desire for more and more app-based services among the consumer base. The pandemic merely accelerated a growing trend toward remote banking services, which led to a corresponding growth in the use of APIs.

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