Oct 15, 2023

Banking and Financial Services: Protecting customer data from ransomware attacks

  • Banks store very confidential data about their customers at their data centres: PII, transaction history, statements and passwords which are critical for seamless banking operations.

  • Sophisticated cyber trollers and ransomware attackers can steal this data and use it either immediately or harvest it for decryption at a later time.

  • By using Quantum Keys banks can add another layer of encryption to critical datasets or internal applications or to transaction authentication processes to detect attempts to break encryption.

  • Even if attacks ATTEMPT to access Quantum Keys it will be detected to ensure the keys collapse hence preventing any attempt to access the data.

Banks can also install standard QRNG (Quantum Random Number Generator) equipment at their data centres to generate and refresh encryption keys using quantum technology and place them in clouds for their IT team who have built applications for internal data processing.

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