The results found API attackers targeting financial services and insurance APIs have become increasingly active, with a 244% increase in unique attackers between the first and second halves of last year. In addition, 92% of financial/insurance respondents say they have experienced a significant security issue in production APIs over the past year, and nearly one out of five have suffered an API security breach. 

Other report highlights

• 69% of financial services/insurance respondents say they have experienced rollout delays due to API security issues — 11% higher than the overall response average
• 17% of respondents have experienced an API-related security breach
• 84% of attacks against financial services/insurance sectors came from "authenticated" users who appeared legitimate but were actually attackers
• 71% of financial/insurance respondents say their existing tools are not very effective in preventing API attacks
• More than 25% of respondents say they have no current API strategy
• 56% of financial services/insurance respondents say API security is now a C-level issue (8% higher versus the overall response average at 48%)
• 79% of financial services/insurance CISOs say that API security is a higher priority today than two years ago
• 76% of financial services/insurance CISOs say their organizations have made API security a planned priority over the next two years, with 13% saying it will be a critical priority