Cyber Incident Hits MoneyGram: Millions of Customers Impacted
As of September 20, MoneyGram has suspended the operation of its systems and money transfer services due to a cyber incident. Both offline and online transactions through MoneyGram remain unavailable, and the company has yet to provide a timeline for service restoration.
The first reports of issues emerged on September 22, when MoneyGram announced a network outage that disrupted connectivity with several of its systems. However, by September 23, the company clarified that the outage was the result of a cyberattack. Despite this, MoneyGram’s representatives have refrained from using the term “ransomware,” and no hacker group has yet claimed responsibility for the incident.
The company assured that upon detecting the threat, it immediately launched an investigation and took certain systems offline to prevent further complications. In addressing the aftermath, MoneyGram has enlisted external cybersecurity experts and is cooperating with law enforcement agencies.
MoneyGram, one of the largest money transfer companies, processes vast amounts of sensitive data, including personal information from over 150 million clients, such as names, addresses, phone numbers, bank details, and credit card numbers. This data is highly valuable to cybercriminals, who could exploit it for financial fraud and identity theft.
