Tag: cyberattacks

Visa, JPMorgan Are Already Preparing for Potential Quantum Cyberattacks

Financial services companies are preparing for a time when a powerful quantum computer could break some of the most widespread cryptographic methods currently used in cybersecurity.

Experts say quantum-computing cyberattacks could be more than a decade away, based on the technology’s rate of progress, but the consequences could be so severe that companies and cryptographers world-wide are preparing now.

Visa Inc.

and

JPMorgan

Chase & Co., for example, are researching methods capable of thwarting such an attack, developing new processes and closely following the race for new encryption standards.

“The data we have is sensitive, and it is vast in quantity, so protecting that data is job number one for us,” said Rajat Taneja, president of technology at Visa.

Rajat Taneja, executive vice president of technology and operations for Visa.



Photo:

Visa Inc.

Nearly six years ago, researchers at Visa began studying so-called post-quantum cryptography, which refers to the new

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Online gambling cyberattacks spike during pandemic lockdown

Malicious cyberattacks against online gambling sites soared during the pandemic lockdown as scammers looked to take advantage of the sites’ increased popularity.

Technology analytics firm Neustar Security recently released its Cyber Threats & Trends Report: Jan-Jun 2020, which details a 151% surge in the number of distributed denial of service (DDoS) attacks in the first half of 2020 compared to the same period last year.

Worse, these attacks are getting more powerful and lasting longer. While attacks at the lower end of the scale involving 5 Gigabits (Gbps) or lower per second were up over 200% year-on-year – and such attacks represented over 70% of observed attacks – those at the other extreme (involving 100 Gbps or more) were up around 275%.

The longest attack duration this year was five days and 18 hours, the longest Neustar has ever observed, while the largest individual attack size was a whopping

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