G7: Quantum-safe system adoption in financial sector due by 2034

The G7 Cyber Expert Group has released a new roadmap mandating the financial sector to complete post-quantum cryptography implementation by 2034, Infosecurity Magazine reports.

Increased awareness of quantum threats and critical system and sensitive data mapping has been recommended during the initial phase between 2025 and 2027, while the creation of an extensive systems inventory detailing third-party dependencies and other possible security issues has been advised from 2025 to 2028, according to the roadmap.

Financial entities have been sought to commence migration for all systems between 2026 and 2029, while conducting progressive migration to quantum-resistant solutions between 2027 and 2034. Testing of migrated systems has been recommended between 2032 and 2035, while systems validation and monitoring have been advised between 2033 and 2035.

"Organizations may also benefit from incorporating a goal of cryptographic agility in their transition plans to adapt new cryptographic solutions for emerging threats and vulnerabilities," said the G7 CEG.