G7 Countries Expresses Concerns for Increasing Cyberattacks

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Cyberattacks

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.

Read More: Ransomware Attacks – Demand Costs to Hit $1.4 Billion in 2020

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.”

Source: securityweek