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rdf:type	schema:NewsArticle
schema:articleBody	Finance ministers from the G7 industrialized countries expressed "concern" on Tuesday over the rise in "malicious cyber-attacks" in the midst of the Covid-19 pandemic, including some involving cryptocurrencies. These ransomware attacks demanding payments often to facilitate money laundering "have been growing in scale, sophistication, and frequency" over the past two years, causing "significant economic damage and (threatening) customer protection and data privacy," the ministers said. "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," said the statement from the US Treasury issued on the G7's behalf following their virtual meeting. "These attacks, which often involve payments in crypto-assets, jeopardize essential functions along with our collective security and prosperity." The ministers and central bank governors repeated their call for caution in the deployment of cryptocurrencies, while recognizing digital currencies issued by central banks could play a role in providing financial services. "The G7 continues to maintain that no global stablecoin project should begin operation until it adequately addresses relevant legal, regulatory and oversight requirements through appropriate design and by adhering to applicable standards," the statement said. Finance ministers from the major euro area economies in September unveiled rules that could limit the development of digital currencies like Facebook's Libra project. French Minister of Finance, Bruno Le Maire, long a vocal critic of the project, warned that, "We will not accept the deployment of Libra... under current conditions." The G7 on Tuesday stressed that confidence in the payments system "is underpinned by credible and longstanding public sector commitments to transparency, the rule of law, and sound economic governance." vmt-hs/cs
schema:headline	G7 raises concerns about rising cyberattacks amid pandemic
schema:mentions	Financial services Bruno Le Maire Eurozone United States Department of the Treasury Digital currency Money laundering French language Cryptocurrency Group of Seven Pandemic Facebook Severe acute respiratory syndrome coronavirus 2 Coronavirus disease 2019 Stablecoin International security GTM Libra Ransomware Information privacy
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-10-13 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	92 (xsd:integer)

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