Europol urges financial institutions to adopt quantum-safe cryptography due to the imminent threat posed by advancements in quantum computing. During the Quantum Safe Financial Forum, concerns were raised about the "store now – decrypt later" strategy, which allows attackers to collect encrypted data for future decryption using quantum machines. With estimates suggesting a 10 to 20-year timeline before current encryption methods become obsolete, Europol emphasizes the need for collaboration among banks, tech providers, and regulators. A 2023 survey revealed that 86% of financial executives feel unprepared for quantum cybersecurity challenges.
How can financial institutions effectively collaborate with tech providers and regulators to ensure a smooth transition to quantum-safe encryption?
Source: https://www.heise.de/en/news/Europo...ch-to-quantum-safe-cryptography-10275006.html
How can financial institutions effectively collaborate with tech providers and regulators to ensure a smooth transition to quantum-safe encryption?
Source: https://www.heise.de/en/news/Europo...ch-to-quantum-safe-cryptography-10275006.html