American peer-to-peer payments and money transfer company MoneyGram confirmed that a cyberattack caused its service outage.
American interstate and international peer-to-peer payments and money transfer company MoneyGram confirmed that its services are currently unavailable due to a cyberattack.
On September 22, the company informed its customers that it was experiencing a network outage impacting connectivity to a number of our systems.
The company has taken some of its systems offline since Friday to contain the attack, a circumstance that suggests it was the victim of a ransomware attack.
The attack impacted both in-person and online money transfer services. The company launched an investigation into the security breach and notified law enforcement.
“We are working diligently to bring our systems back online and resume normal business operations,” said the company.
At the time of this writing, the website is still unreachable.
MoneyGram International was acquired by private equity firm Madison Dearborn Partners on June 1, 2023, for $11.00 per share, taking the company private. By early 2023, 50% of its transactions were digital. The company operates in over 200 countries, serving 150 million customers globally, making it a significant player in the money transfer industry.
MoneyGram holds a huge trove of sensitive customer data, for this reason, it is a prime target for cyber criminals.
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