A recent Akamai report has revealed a staggering surge in web application and API attacks against financial services organizations in the Asia-Pacific and Japan (APJ) region, with a 248 percent increase from the previous year. These attacks present a critical concern for financial services organizations, as their expansion into digital products and services create larger attack surfaces for cyber criminals to exploit.
Reuben Koh, Security Technology and Strategy Director (APJ) at Akamai, stated that this rise in attacks is a direct result of the significant investment made in APJ towards digital transformation in recent years. And this investment pays off – APJ experienced an average of ten million attack a day for the past 24 months, with days reaching sixty million in attack count.
The study further found that Local File Inclusion (LFI) attacks were the most common attack vector in APJ, representing a 154 percent increase in attacks year-over-year and surpassing XSS and SQLi attacks. This is due to the ever growing vulnerability of PHP-based servers, used by popular platforms such as Facebook, WordPress, and Wikipedia.
Furthermore, the report revealed differences in web and API attack patterns across APJ’s local markets. For example, Australia and Japan witnessed the highest growth in web application and API attacks against finance, attributing to its established status as an important financial hub. However, attack patterns in both countries were different; Australia experienced more persistent attacks while Japan was characterized by large-scale attacks. Additionally, India experienced a surge in retail and commerce sectors, indicating an increase in e-commerce spending in the country.
To stay ahead of cyber criminals, it is essential that organizations remain updated on the latest attack trends and best practices. Akamai, a cloud company that powers and protects life online, recommends investing in advanced technologies and consistently refining risk mitigation strategies.
About Akamai Technologies, Inc.
Akamai Technologies is a renowned cloud services provider that powers and protects life online, transforming the internet from a medium of opportunity to an even more essential tool. They are known for providing customers with an infrastructure, tools and services that make the web faster, smarter, more reliable, and more secure. With a presence in over 100 countries, Akamai’s global network and analytics capabilities help customers build stronger relationships and drive better engagement with their customers and other stakeholders. Akamai’s customers include companies such as Apple, Microsoft, and Amazon, just to name a few.
About Reuben Koh
Reuben Koh is the Security Technology and Strategy Director (APJ) at Akamai Technologies. He is a security expert with many years of experience in the industry. He is well-versed in data security and digital risk management, with a proven track record of creating successful security solutions for organizations of all sizes. He regularly shares his experience and expertise in various industry events and forums. Koh is also an active participant in the cybersecurity community, engaging in discussions and helping organizations devise better strategies to ensure their cyber safety.
