diff --git a/package.json b/package.json
index 5b69a39e..ea215b30 100644
--- a/package.json
+++ b/package.json
@@ -44,7 +44,7 @@
     "@fiatconnect/fiatconnect-sdk": "^0.5.62",
     "@fiatconnect/fiatconnect-types": "^13.3.8",
     "api-contract-validator": "^2.2.8",
-    "axios": "^0.27.2",
+    "axios": "^0.28.1",
     "chai": "^4.3.10",
     "chai-as-promised": "^7.1.1",
     "dotenv": "^16.4.5",
diff --git a/yarn.lock b/yarn.lock
index 66a889c7..93f35691 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -1690,13 +1690,14 @@ available-typed-arrays@^1.0.5:
   resolved "https://registry.yarnpkg.com/available-typed-arrays/-/available-typed-arrays-1.0.5.tgz#92f95616501069d07d10edb2fc37d3e1c65123b7"
   integrity sha512-DMD0KiN46eipeziST1LPP/STfDU0sufISXmjSgvVsoU2tqxctQeASejWcfNtxYKqETM1UxQ8sp2OrSBWpHY6sw==
 
-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@^0.28.1:
+  version "0.28.1"
+  resolved "https://registry.yarnpkg.com/axios/-/axios-0.28.1.tgz#2a7bcd34a3837b71ee1a5ca3762214b86b703e70"
+  integrity sha512-iUcGA5a7p0mVb4Gm/sy+FSECNkPFT4y7wt6OM/CDpO/OnNCvSs3PoMG8ibrC9jRoGYU0gUK5pXVC4NPXq6lHRQ==
   dependencies:
-    follow-redirects "^1.14.9"
+    follow-redirects "^1.15.0"
     form-data "^4.0.0"
+    proxy-from-env "^1.1.0"
 
 babel-jest@^29.7.0:
   version "29.7.0"
@@ -2720,10 +2721,10 @@ flatted@^3.1.0:
   resolved "https://registry.yarnpkg.com/flatted/-/flatted-3.2.7.tgz#609f39207cb614b89d0765b477cb2d437fbf9787"
   integrity sha512-5nqDSxl8nn5BSNxyR3n4I6eDmbolI6WT+QqR547RwxQapgjQBmtktdP+HTBb/a/zLsbzERTONyUB5pefh5TtjQ==
 
-follow-redirects@^1.14.9:
-  version "1.15.2"
-  resolved "https://registry.yarnpkg.com/follow-redirects/-/follow-redirects-1.15.2.tgz#b460864144ba63f2681096f274c4e57026da2c13"
-  integrity sha512-VQLG33o04KaQ8uYi2tVNbdrWp1QWxNNea+nmIB4EVM28v0hmP17z7aG1+wAkNzVq4KeXTq3221ye5qTJP91JwA==
+follow-redirects@^1.15.0:
+  version "1.15.9"
+  resolved "https://registry.yarnpkg.com/follow-redirects/-/follow-redirects-1.15.9.tgz#a604fa10e443bf98ca94228d9eebcc2e8a2c8ee1"
+  integrity sha512-gew4GsXizNgdoRyqmyfMHyAmXsZDk6mHkSxZFCzW9gwlbtOW44CDtYavM+y+72qD/Vq2l550kMF52DT8fOLJqQ==
 
 for-each@^0.3.3:
   version "0.3.3"
@@ -4293,6 +4294,11 @@ 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 "1.9.0"
   resolved "https://registry.yarnpkg.com/psl/-/psl-1.9.0.tgz#d0df2a137f00794565fcaf3b2c00cd09f8d5a5a7"