Space 2023: The Final Fintech Cybersecurity Frontier?

A recently introduced bipartisan bill, the Space Infrastructure Act, could see space systems and services designated as critical national infrastructure by the U.S. government. Space is already one of 13 critical national infrastructure sectors in the U.K. It should come as no surprise that space technology is also something of an unseen force underpinning financial services cybersecurity, but is it being adequately funded?

Billions Of Invisible Transactions Fill The Night Sky

“When we look up at the night sky, we are seeing billions of invisible transactions using space technology, enabling us to travel, grow, and plan for our futures,” Chris Kubecka, CEO at nation-state incident management consultancy HypaSec, says. Kubecka, a former USAF veteran who also served in Space Command, handling command and control systems, talks of space IOT, microsatellites, 6G and beyond as reasons why multiple governments are focusing on space. “However, lots of legacy tech, geopolitical, criminal and cybersecurity risks make for juicy targets,” Kubecka says, concluding that the financial sector faces “multiple challenges ahead to plan, minimize, and mitigate cybersecurity issues in space.” Daniel Card, an industry cybersecurity consultant and founder of PwnDefend, agrees that space is an “opportunity space” and we need technology to “be safe everywhere from our fridge to our forces in space.” However, Card also points out that “satellites still have high latency and are also targeted by nation states in a range of ways.” There is still plenty of work to do, in other words.