Amsterdam, 7 February (Reuters) – Europe’s financial sector should now start preparing for quantum computers, which must be able to break some forms of encryption used widely for the protection of sensitive data. , On Friday, an Europeol -LED body was set to address the issue.
The group stated in a call to action, “For the financial industry, the arrival of quantum computers raises the risk to customer privacy and colleague communication, authentication processes and confidence in digital signature.”
“Quantum computers capable of presenting such threats are expected to be available within the next 10 to 15 years, although this may be a spur.”
However, the Quantum Safe Financial Forum founded by the PAN-European Police Agency said that it does not believe that new regulation is required to address the problem as the need for data protection under the current European Union Act is clear.
Members of the forum include representatives of the US, European and British central banks, as well as Allians, Santnder, Barclays, BNP Pariba, MasterCard, Moody’s and European Banking Association.
Quantum computers use sub -quantity particles to calculate in a different, more efficient way than the classical binary computing system.
Forum’s major recommended financial institutions have to begin to learn that cryptographic standard can be unsafe for quantum computers, which are considered safe, and to draft a scheme to change the operation accordingly. .
Additionally, it warned that banks and businesses should consider that criminals can already store sensitive data in the hope of decrying it in the future.
It was noted that the US government has set a 2035 deadline for federal agencies to be “quantum resistant”.
(Reporting by Tobby Sterling; Editing by Mark Heinrich)
(Tagstotransite) Quantum Computer (T) Financial Sector (T) Encryption (T) Customer Privacy (T) Cryptographic Standards
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