diff --git a/package.json b/package.json
index 9d68f283..e25a27d6 100644
--- a/package.json
+++ b/package.json
@@ -39,7 +39,7 @@
     "@fiatconnect/fiatconnect-sdk": "^0.5.0",
     "@fiatconnect/fiatconnect-types": "^10.1.0",
     "api-contract-validator": "^2.2.8",
-    "axios": "^0.27.2",
+    "axios": "^1.2.0",
     "chai": "^4.3.7",
     "chai-as-promised": "^7.1.1",
     "dotenv": "^16.0.0",
diff --git a/yarn.lock b/yarn.lock
index 8215726b..5da00069 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -1531,13 +1531,14 @@ asynckit@^0.4.0:
   resolved "https://registry.yarnpkg.com/asynckit/-/asynckit-0.4.0.tgz#c79ed97f7f34cb8f2ba1bc9790bcc366474b4b79"
   integrity sha1-x57Zf380y48robyXkLzDZkdLS3k=
 
-axios@^0.27.2:
-  version "0.27.2"
-  resolved "https://registry.yarnpkg.com/axios/-/axios-0.27.2.tgz#207658cc8621606e586c85db4b41a750e756d972"
-  integrity sha512-t+yRIyySRTp/wua5xEr+z1q60QmLq8ABsS5O9Me1AsE5dfKqgnCFzwiCZZ/cGNd1lq4/7akDWMxdhVlucjmnOQ==
+axios@^1.2.0:
+  version "1.2.0"
+  resolved "https://registry.yarnpkg.com/axios/-/axios-1.2.0.tgz#1cb65bd75162c70e9f8d118a905126c4a201d383"
+  integrity sha512-zT7wZyNYu3N5Bu0wuZ6QccIf93Qk1eV8LOewxgjOZFd2DenOs98cJ7+Y6703d0wkaXGY6/nZd4EweJaHz9uzQw==
   dependencies:
-    follow-redirects "^1.14.9"
+    follow-redirects "^1.15.0"
     form-data "^4.0.0"
+    proxy-from-env "^1.1.0"
 
 babel-jest@^28.1.3:
   version "28.1.3"
@@ -2492,10 +2493,10 @@ flatted@^3.1.0:
   resolved "https://registry.yarnpkg.com/flatted/-/flatted-3.2.5.tgz#76c8584f4fc843db64702a6bd04ab7a8bd666da3"
   integrity sha512-WIWGi2L3DyTUvUrwRKgGi9TwxQMUEqPOPQBVi71R96jZXJdFskXEmf54BoZaS1kknGODoIGASGEzBUYdyMCBJg==
 
-follow-redirects@^1.14.9:
-  version "1.15.0"
-  resolved "https://registry.yarnpkg.com/follow-redirects/-/follow-redirects-1.15.0.tgz#06441868281c86d0dda4ad8bdaead2d02dca89d4"
-  integrity sha512-aExlJShTV4qOUOL7yF1U5tvLCB0xQuudbf6toyYA0E/acBNw71mvjFTnLaRp50aQaYocMR0a/RMMBIHeZnGyjQ==
+follow-redirects@^1.15.0:
+  version "1.15.2"
+  resolved "https://registry.yarnpkg.com/follow-redirects/-/follow-redirects-1.15.2.tgz#b460864144ba63f2681096f274c4e57026da2c13"
+  integrity sha512-VQLG33o04KaQ8uYi2tVNbdrWp1QWxNNea+nmIB4EVM28v0hmP17z7aG1+wAkNzVq4KeXTq3221ye5qTJP91JwA==
 
 form-data@^4.0.0:
   version "4.0.0"
@@ -3988,6 +3989,11 @@ prop-types@^15.8.1:
     object-assign "^4.1.1"
     react-is "^16.13.1"
 
+proxy-from-env@^1.1.0:
+  version "1.1.0"
+  resolved "https://registry.yarnpkg.com/proxy-from-env/-/proxy-from-env-1.1.0.tgz#e102f16ca355424865755d2c9e8ea4f24d58c3e2"
+  integrity sha512-D+zkORCbA9f1tdWRK0RaCR3GPv50cMxcrz4X8k5LTSUD1Dkw47mKJEZQNunItRTkWwgtaUSo1RVFRIG9ZXiFYg==
+
 psl@^1.1.33:
   version "1.8.0"
   resolved "https://registry.yarnpkg.com/psl/-/psl-1.8.0.tgz#9326f8bcfb013adcc005fdff056acce020e51c24"