Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Advertising and Sponsorship
    • Profile & Readership
    • Contact Us
    • Latest News
    • Privacy & Cookies Policies
    • Terms of Use
    • Advertising Terms
    • Issue 81
    • Issue 80
    • Issue 79
    • Issue 78
    • Issue 77
    • Issue 76
    • Issue 75
    • Issue 74
    • Issue 73
    • Issue 72
    • Issue 71
    • Issue 70
    • View All
    • About the Awards
    • Awards Timetable
    • Awards Winners
    • Submit Nominations
    • Testimonials
    • Media Room
    • FAQ
    • Asset Management Awards
    • Brand of the Year Awards
    • Business Awards
    • Cash Management Banking Awards
    • Banking Technology Awards
    • CEO Awards
    • Customer Service Awards
    • CSR Awards
    • Deal of the Year Awards
    • Corporate Governance Awards
    • Corporate Banking Awards
    • Digital Transformation Awards
    • Fintech Awards
    • Education & Training Awards
    • ESG & Sustainability Awards
    • ESG Awards
    • Forex Banking Awards
    • Innovation Awards
    • Insurance & Takaful Awards
    • Investment Banking Awards
    • Investor Relations Awards
    • Leadership Awards
    • Islamic Banking Awards
    • Real Estate Awards
    • Project Finance Awards
    • Process & Product Awards
    • Telecommunication Awards
    • HR & Recruitment Awards
    • Trade Finance Awards
    • The Next 100 Global Awards
    • Wealth Management Awards
    • Travel Awards
    • Years of Excellence Awards
    • Publishing Principles
    • Ownership & Funding
    • Corrections Policy
    • Editorial Code of Ethics
    • Diversity & Inclusion Policy
    • Fact Checking Policy
    Original content: Global Banking and Finance Review - https://www.globalbankingandfinance.com

    A global financial intelligence and recognition platform delivering authoritative insights, data-driven analysis, and institutional benchmarking across Banking, Capital Markets, Investment, Technology, and Financial Infrastructure.

    Copyright © 2010-2026 - All Rights Reserved. | Sitemap | Tags

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    1. Home
    2. >Technology
    3. >Harvest Now, Decrypt Later
    Technology

    Harvest Now, Decrypt Later

    Published by Jessica Weisman-Pitts

    Posted on November 9, 2021

    5 min read

    Last updated: January 28, 2026

    Add as preferred source on Google
    This image illustrates oil tankers, highlighting the expected stabilization of oil prices in 2025 due to ample supply and slow demand, particularly from China. The article discusses how OPEC+ actions and global market trends impact oil pricing.
    Oil tankers transporting crude oil amid expected price stabilization - Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Quick Summary

    Quantum computing threatens current encryption. Companies must act now to protect data with strategies like crypto-segmentation.

    Quantum Computing: Harvest Now, Decrypt Later Threat

    It is now inevitable that the encryption algorithms used to secure vital data across the world – from defence and banking to infrastructure and air travel – will be breached. With the escalation in computing power enabled by quantum technology, the question is not if, but when potentially devastating breaches will occur.

    With ‘harvest now, decrypt later’ hacking strategies currently in progress, criminals are banking on the power of quantum computing to allow them to unlock huge data resources. The onus is on companies not just to consider the future quantum threat but to determine how best to protect current resources today.

    Paul German, CEO, Certes Networks, explains the risk associated with bulk encryption strategies and the importance of crypto-segmentation in reducing criminal exposure to data in a post-quantum world.

    Quantum Leap

    Quantum computing is edging ever closer to reality, with venture capitalists investing almost $1.02 billion in quantum computing start-up companies this year alone. While there is huge excitement around the step change in AI performance, for example, that quantum compute power could unleash, the security implications are potentially devastating.

    Security experts globally expect quantum computers to herald the breach of the asymmetric cryptography used globally to secure everything from defence to infrastructure. While classical compute power would take billions of years to execute Shor’s Algorithm, which is proven to break the encryption methods currently in place, the arrival of a quantum computer of sufficient size and complexity totally changes the game.

    For companies reviewing security strategies, this post-quantum security threat is not in the future; it is not about considering how to respond as and when quantum computing becomes available. Criminal organisations globally are embarking upon mass data harvesting & breach schemes today on the basis that even though the information cannot be immediately decrypted, at some point in the future, access to quantum compute power will unlock these information resources. Systems are at risk – not in the future, but today.

    Time and Data

    While securities bodies across the world, including Open SSL, are working hard to develop new quantum-proof algorithms, no organisation can afford to wait. Changes need to – and moreover can – be made today to safeguard current data resources and reduce the decryption risk posed by quantum computing. What is required is both a change in mindset and a change in technical approach to the solutions already available.

    A key step is to minimise the value of ‘harvest now, decrypt later’ strategies by reducing the amount of ‘usable’ data collected during a breach. During many recent attacks, criminals have been able to spend months collecting data – and although it is encrypted, they had the time (often months) to access vast data sets. This enabled them to build up enough knowledge about the encryption algorithm being used to know that, once they have the opportunity to use quantum computing, they will be able to break the key and have full access to the entire data resource.

    The priority today to is to institute data securities policies that radically reduce the time and data available to criminals.

    Crypto-segmentation

    Many organisations are starting to adopt micro-segmentation as part of their data security policies. While this is a step in the right direction, unless they are also applying cryptography, ultimately data harvesting is still very real threat.

    It is also vital to recognise the inherent risk associated with the bulk encryption model: using the same encryption key, however strong, to protect all data resources is not a robust policy. Once in, a criminal has one data set to work with; one encryption key to identify.

    The concept of crypto-segmentation, however, is based on a far more nuanced approach to protecting data, defining different data classes for each data type and protecting each class with its own encryption algorithm and encryption key.

    In addition to creating multiple data classifications, regular rotation of the encryption keys used for each class will also hugely limit a criminal’s time with any data set. If keys are being rotated every hour, for example, anyone capturing the data has minutes, not months, to work on a data set.  That means minutes to understand the data; to determine which data packets belong to which data classification; group the data sets together to create a sample; identify the encryption used for each data class and then reverse engineer the keys.  Plus, with very small sample sizes in each data class, it becomes incredibly difficult to crack the keys being used.

    Incorporating New Standards

    The next generation of post-quantum encryption standards are being developed. But this is a challenge that will never disappear – especially for security agencies that are required to retain data for decades. With the phenomenal growth in computer power, tomorrow’s ground breaking algorithm will be easy to break in five, ten, 20 years’ time – however smart the algorithm, no organisation can risk the reliance on one encryption key.

    Bulk encryption is inherently flawed, which means organisations must maximise the value of an array of standard encryption algorithms. Using crypto-segmentation and key rotation is an important step; significantly increasing protection against the quantum threat even with current encryption algorithms. As and when new post-quantum encryption standards are introduced, they can be incorporated into this model to maximise the organisation’s protection.

    Conclusion

    This threat is not the future; it is happening today. ‘Harvest now, decrypt later’ breaches are occurring right now. Quantum compute services in the cloud are offering criminals the chance to buy a slice of quantum power. Algorithms will continue to evolve and improve; criminals will continue to gain access to ever more powerful computers. By creating multiple data classes and using regular key rotation, not only is the limited data set harder to decrypt but it also likely to offer far less value; value outweighed by the enormous cost of quantum compute power.

    Key Takeaways

    • •Quantum computing will soon breach current encryption methods.
    • •Criminals are using 'harvest now, decrypt later' strategies.
    • •Companies must act now to protect data from future threats.
    • •Crypto-segmentation is crucial for data security.
    • •New quantum-proof algorithms are in development.

    Frequently Asked Questions about Harvest Now, Decrypt Later

    1What is the main topic?

    The article discusses the security threats posed by quantum computing to current encryption methods.

    2What is 'harvest now, decrypt later'?

    It's a strategy where criminals collect encrypted data now, intending to decrypt it later using quantum computing.

    3How can companies protect their data?

    Companies can adopt crypto-segmentation and develop quantum-proof algorithms to safeguard data.

    More from Technology

    Explore more articles in the Technology category

    Image for Innovation Through Partnership: The Role of External Tech Teams
    Innovation Through Partnership: The Role of External Tech Teams
    Image for Nominations Open for Technology Awards 2026
    Nominations Open for Technology Awards 2026
    Image for Nominations Open for Innovation Awards 2026
    Nominations Open for Innovation Awards 2026
    Image for Archie earns industry recognition across G2, Capterra, and SoftwareReviews
    Archie Earns Industry Recognition Across G2, Capterra, and SoftwareReviews
    Image for The Bankaool Transformation: How a Regional Mexican Bank Became a Fintech Disruptor
    The Bankaool Transformation: How a Regional Mexican Bank Became a FinTech Disruptor
    Image for Submit Your Entry Today for Digital Banking Awards 2026
    Submit Your Entry Today for Digital Banking Awards 2026
    Image for Behavioral AI in Financial Services: Moving Beyond Automation Toward Human Understanding
    Behavioral AI in Financial Services: Moving Beyond Automation Toward Human Understanding
    Image for Submit Your Entry for Brand of the Year Awards Technology Bahrain 2026
    Submit Your Entry for Brand of the Year Awards Technology Bahrain 2026
    Image for Entries Now Open for Best Islamic Open Banking Burkina Faso APIs 2026
    Entries Now Open for Best Islamic Open Banking Burkina Faso APIs 2026
    Image for Entrepreneurial Discipline in the AI Economy: Insights from Dmytro Lavryniuk
    Entrepreneurial Discipline in the AI Economy: Insights From Dmytro Lavryniuk
    Image for Entries Now Open for Best New Digital Wallet Innovation Award 2026
    Entries Now Open for Best New Digital Wallet Innovation Award 2026
    Image for Call for Entries: Best Digital Wallet 2026
    Call for Entries: Best Digital Wallet 2026
    View All Technology Posts
    Previous Technology PostWhy Ransomware Readiness in the Finance Sector Is Critical
    Next Technology PostHow AgeTech Is Revolutionizing Senior Care