The Finance ministers from the G7 countries have recently expressed concern due to the increasing malicious cyber-attacks amid the pandemic. These include cryptocurrencies attacks too. The ransomware attacks asking for payments to enable money laundering have reportedly been developing in sophistication, scale, and frequency.
Such scams are causing severe economic damage and a threat to data privacy and customer protection. According to the US Treasury on behalf of G7’s virtual meeting – “The G7 is concerned by the rising threat of ransomware attacks, particularly in light of malicious actors targeting critical sectors amid the COVID-19 pandemic.”