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CFTIRC Background
The Cyber Forensics & Threat Investigations Research Community (CFTIRC) is an international research society, which aims to promote research and development in all areas of cybersecurity, digital forensics, incident response, and threat investigations.
As a research infrastructure, CFTIRC intends to bring together researchers from academia and industry as well as practitioners to share their new ideas, problems, and solutions related to the multifaceted aspects of cybersecurity, digital forensics, incident response, and threat investigations.
In order to achieve the goals, CFTIRC has sponsored one international scholarly journal "International Journal of Cyber Forensics and Advanced Threat Investigations" as well as organized various research events such as ADVANCE, CFATI, CFTIRC, and so forth. CFTIRC also manages an online bulletin board system as a cybersecurity social platform for blogging in all areas of cybersecurity, digital forensics, incident response, and threat investigations. It is open to everyone and It can be accessed via the following link https://cftirc.conceptechint.net
CFTIRC Technical Publications
Technical Report 1: Cyber Threats in Financial Transactions - Addressing the Dual Challenge of AI and Quantum Computing
Executive Summary: The financial sector faces escalating cyber threats amplified by artificial intelligence (AI) and the looming advent of quantum computing. AI is being weaponized for sophisticated attacks like deepfakes and AI-driven malware, while quantum computing threatens to render current encryption methods obsolete. This report examines these dual threats, analyzes existing legal and regulatory frameworks, and evaluates countermeasures such as quantum cryptography.
AI enhances social engineering and phishing attacks through personalized content and automation, lowers the barrier to entry for cybercriminals, and introduces risks like data poisoning and adversarial AI. Quantum computing, particularly Shor's algorithm, poses a fundamental threat to current encryption standards (RSA and ECC), with estimates suggesting cryptographically relevant quantum computers could emerge within the next 5-30 years. The "harvest now, decrypt later" scenario highlights the urgency of transitioning to quantum-resistant cryptography.
Existing legal frameworks are evolving to address AI in cybercrime, but quantum threats require new initiatives. International cooperation and harmonized regulations are crucial. Quantum Key Distribution (QKD) offers theoretical security but faces practical limitations. Post-quantum cryptography (PQC) is a promising alternative, with ongoing standardization efforts.
Recommendations for international regulators include fostering collaboration and information sharing, establishing global standards, supporting research and development in quantum security, harmonizing legal frameworks, promoting cryptographic agility, and raising awareness and education. The financial industry must adopt a proactive and adaptive approach to cybersecurity, investing in research, developing migration plans for quantum-resistant cryptography, and embracing a multi-faceted, collaborative strategy to build a resilient, quantum-safe, and AI-resilient financial ecosystem.
Keywords: Artificial Intelligence, Quantum Computing, Cybersecurity, Financial Transactions, Cryptography, Threats, Regulation
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