New Delhi, May 12: Companies across the Asia-Pacific region are facing rising financial losses from API-related cyberattacks, with the average cost of a security incident exceeding $1 million, according to a recent report.
The study highlighted that increasing digital adoption and cloud-based services have made APIs a major target for cybercriminals, exposing businesses to risks such as data breaches, operational disruptions, and financial losses.
Experts said sectors including banking, healthcare, retail, and e-commerce are among the most vulnerable due to growing reliance on interconnected digital systems.
The report stressed the need for stronger API security measures, including real-time threat monitoring, better authentication systems, and advanced cybersecurity frameworks to protect sensitive data and strengthen digital resilience.