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French Financial Institutions, Compliance Officers Face Quantum Revolution

By Gabriel Vedrenne

French financial services companies appear to have finally come to grips with a multi-year fraud epidemic that has cost victims hundreds of millions of euros, though a powerful new technology, Quantum computing, will give rise to new schemes, a government agency has warned. In a 144-page report, the Banque de France's Observatory for Security of Payment Methods noted Tuesday that electronic payments in the country exceeded 32 billion in number last year while the share of those linked to fraudsters plateaued at 7.1 million, with contactless, mobile and online transfers all facing their lowest rate of exposure to the crime...

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