Financial, Other Industries Urged to Prepare for Quantum Computers

The report warns that quantum computing—while possibly years or decades away—poses a significant long-term risk to current encryption, urging financial firms, government agencies, and other organizations to inventory cryptographic dependencies, adopt cryptographic agility, and start migrating to post-quantum cryptography now to avoid future exposure from "harvest now, decrypt later" strategies; it cites Mosca's Theorem, industry initiatives, and regulatory timelines to support immediate action.