Appsentinels Ensuring Adherence to SEBI CSCRF API Security Standards
API Security Requirements from the Cybersecurity and Cyber Resilience Framework (CSCRF) for SEBI-Regulated Entities (REs)
Since 2015, the Securities and Exchange Board of India (SEBI) has introduced several cybersecurity and cyber resilience frameworks to address evolving cybersecurity risks and strengthen the resilience of regulated entities (REs). Additionally, SEBI has issued multiple advisories on best practices to guide REs in enhancing their cybersecurity posture.
To expand the scope of the existing frameworks, ensure uniformity in cybersecurity guidelines across all REs, and bolster mechanisms for addressing cyber risks, threats, and incidents, SEBI has formulated the Cybersecurity and Cyber Resilience Framework (CSCRF). This comprehensive framework provides a standardized approach to implementing robust cybersecurity and resilience strategies tailored for SEBI-regulated entities.
APIs, Why do they matter in Application Security?
APIs (Application Programming Interfaces) have become the backbone of modern digital ecosystems, enabling seamless integration and data exchange between various applications and services. However, the very attributes that make APIs indispensable—their ubiquity and high functionality—also render them appealing targets for malicious actors.
According to Gartner, APIs have become the leading attack vector for applications since 2022, marking a pivotal shift in the application security landscape. This trend is driven by multiple factors:
- Access to Sensitive Data: APIs serve as gateways to critical and sensitive information, making them highly appealing to attackers.
- Access to unauthorized functionality: Authorization issues in APIs can allow hackers access to critical functionality in the application normally forbidden for regular users.
- Complexity: The diverse functionality and intricate nature of APIs make securing them a challenging task.
With the increasing reliance on APIs in financial market applications globally and a surge in API-related cybersecurity incidents, it has become evident that traditional security solutions are insufficient to protect them. Recognizing this gap, SEBI introduced API Security into its Cybersecurity and Cyber Resilience Framework (CSCRF) in the 2024 update. This addition provides actionable guidance to protect APIs against modern threats and ensure resilience in the evolving digital landscape.
API Security Requirements from CSCRF 2024 Update & Solutions
Our team has meticulously extracted key API security requirements from the CSCRF framework to assist security teams in better understanding these needs. Additionally, we provide solution guidance to demonstrate how AppSentinels can effectively address these requirements.
Below is a comprehensive list of API security requirements from the CSCRF framework, along with insights into how AppSentinels’ solutions can help meet them:
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