Europol’s Post-Quantum Cryptography Report warns that quantum computing could break today’s encryption, urging FIs to act now to safeguard transactions, identities, and sensitive data from future FC

The report outlines a practical methodology that helps financial organisations assess and rank systems and use cases for post-quantum cryptography migration based on quantum-related risk, data sensitivity, and implementation complexity, enabling more effective planning and execution. It highlights early “no-regret” actions such as deploying hybrid cryptographic solutions for public-facing services and eliminating outdated encryption practices, and emphasises that readiness requires coordination across firms, vendors, standards bodies and risk management programmes…