ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
Home Cybersecurity

NIST unveils encryption standards to protect against quantum computer cyberattacks

August 13, 2024
Reading Time: 1 min read
Banking sector, regulators announce joint effort to address AI risks

The National Institute of Standards and Technology today announced that it has finalized a principal set of encryption algorithms designed to withstand cyberattacks from a quantum computer. The standards are the result of an eight-year effort by NIST to strengthen computer encryption capabilities amid advances in technology.

Quantum computers theoretically would be far more powerful than today’s computers, and many experts believe a quantum computer capable of breaking current encryption methods is just a decade away, according to NIST. The three standards unveiled by the agency contain the encryption algorithms’ computer code, instructions for how to implement them and their intended uses. NIST also said it will continue to evaluate two other sets of algorithms that could one day serve as backup standards.

“These finalized standards include instructions for incorporating them into products and encryption systems,” said NIST mathematician Dustin Moody, who heads the post-quantum cryptography standardization project. “We encourage system administrators to start integrating them into their systems immediately, because full integration will take time.”

Moody added that there is no need to wait for future standards. “Go ahead and start using these three,” he said. “We need to be prepared in case of an attack that defeats the algorithms in these three standards, and we will continue working on backup plans to keep our data safe. But for most applications, these new standards are the main event.”

Tags: Data security
ShareTweetPin

Related Posts

ABA: OCC should revise proposed changes to bank merger application process

ABA urges OCC to provide stronger safeguards, clearer rules for charter applicants

Newsbytes
February 11, 2026

As the OCC considers revising its chartering rules, the agency should seek to uphold strong safety and soundness standards, increase transparency in the chartering process, and move cautiously as new regulatory frameworks develop, ABA said. The association also...

Bessent: Trump administration recognizes CDFI Fund’s ‘important role’ in communities

New York Fed reports ‘modest decline’ in CDFI numbers, assets

Community Banking
February 11, 2026

After rising for more than a decade, the number of community development financial institutions and their total assets experienced a modest decline starting in 2023, according to a new report by the Federal Reserve Bank of New York.

FOMC minutes: Persistent inflation clouds path forward

Banking agencies rescind Liquidity Coverage Ratio rule FAQs

Compliance and Risk
February 11, 2026

The banking agencies announced they are rescinding the FAQs on the Liquidity Coverage Ratio but will leave the documents online for public viewing.

ABA, associations: FHFA pushing Federal Home Loan Banks away from providing liquidity

GAO: Ginnie Mae, FHFA need to improve monitoring of nonbank mortgage companies

Compliance and Risk
February 11, 2026

Ginnie Mae and the Federal Housing Finance Agency must take steps to better assess the funding risks of the nonbank mortgage companies that they monitor, the Government Accountability Office concluded in a new report.

CFPB issues decision on TILA preemption of state laws

Federal court partially upholds Illinois interchange fee law

Legal
February 10, 2026

A federal court in Illinois partially upheld a first-of-its-kind state law restricting interchange fees for debit and credit card payments, striking down only the portion of the law that restricts the sharing of certain data obtained in transactions....

Business inventories rise in February

Business inventories rose in November

Economy
February 10, 2026

Business inventories in November 2025 came in at nearly $2.68 trillion, up 0.1% from the month prior and up 1.2% from a year ago, the Commerce Department said.

NEWSBYTES

ABA urges OCC to provide stronger safeguards, clearer rules for charter applicants

February 11, 2026

New York Fed reports ‘modest decline’ in CDFI numbers, assets

February 11, 2026

Banking agencies rescind Liquidity Coverage Ratio rule FAQs

February 11, 2026

SPONSORED CONTENT

How Instant Payments Can Accelerate B2B Payments Modernization

How Instant Payments Can Accelerate B2B Payments Modernization

February 3, 2026
Digital Banking: The Gateway to Customer Growth and Competitive Differentiation

Digital Banking: The Gateway to Customer Growth and Competitive Differentiation

February 1, 2026
Planning Your 2026 Budget? Allocate Resources to Support Growth and Retention Goals

Why Every Digital Interaction Defines Your Brand Experience

February 1, 2026
Seeing More Check Fraud and Scams? These Educational Online Toolkits Can Help

Seeing More Check Fraud and Scams? These Educational Online Toolkits Can Help

November 1, 2025

PODCASTS

Podcast: How the SCAM Act would encourage platforms to go after scammers

February 4, 2026

A new kind of ‘community bank’ for small businesses

January 22, 2026

Podcast: A Lone Star banking perspective

January 15, 2026

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2026 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2026 American Bankers Association. All rights reserved.