A Review on API Security Risk and Vulnerability Assessment

Numerous previous security breaches have highlighted the importance of strong cybersecurity practices, particularly in the areas of vulnerability assessment and API security. Incidents such as the 2017 Equifax data breach, which exposed personal information about over 147 million people, highlight the crucial importance of proactive security measures in preventing significant financial losses and reputational harm for businesses. APIs, which are critical for modern technology, enable effective communication between software programs and account for more than 83% of internet traffic. However, its extensive implementation poses serious security weaknesses. This research investigates the many forms of API vulnerabilities and related risks across protocols such as REST, SOAP, and HTTP. It also examines previous studies on API security and vulnerability assessment, emphasizing the likelihood and severity of certain attacks and providing mitigating measures. The paper recommends ways to improve API security, with a focus on blockchain technology and AI/machine learning, to safeguard systems, data, and users.