Banks are cautiously preparing to implement new encryption algorithms that will protect against hackers using quantum computing to crack their code. But experts warn they potentially need to stump up astronomical sums to raise their cyber defences against the developing threats. If they don’t, then current cryptography could be obsolete within five years, according to some estimates.
Andersen Cheng, who worked on JP Morgan’s response to the ‘millennium bug’ in 2000, says the bank spent $286
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
