What's Happening?
The G7 Cyber Expert Group has issued a roadmap requiring the financial sector to implement post-quantum cryptography (PQC) by 2034. This initiative aims to address the emerging threats posed by quantum computing
to current cryptographic systems. The roadmap outlines phases for increasing awareness, mapping critical systems, and migrating to quantum-resistant solutions. Financial institutions are advised to begin migration efforts between 2026 and 2029, with testing and validation phases extending into the mid-2030s.
Why It's Important?
The mandate for PQC implementation is a proactive measure to safeguard the financial sector against future quantum computing threats. As quantum technology advances, it poses a risk to existing encryption methods, potentially compromising sensitive financial data. By adopting PQC, financial institutions can enhance their security posture and protect against data breaches. This move underscores the importance of staying ahead of technological advancements to maintain trust and stability in the financial system.
