Breaking news
A “cybersecurity issue” has shut down MoneyGram’s programs and fee products and services since Friday, and the fintech leader has yet to change customers as to when it expects to comprise its global cash transfer products and services wait on up and running.
The downed products and services reportedly encompass in-particular person payments as successfully as on-line transactions.
The Register has asked Texas-based MoneyGram for commentary and will change this story if and after we receive answers to our questions, alongside with when it expects to restore its operations, and if a ransomware infection is guilty for the forced downtime.
After first and foremost alerting customers by the exercise of X/Twitter on Saturday, and describing the field as a “network outage impacting connectivity to a number of our systems,” the financial skills firm disclosed on Monday that the outage turned into due to some form of digital intrusion.
Alternatively, MoneyGram soundless has not historical the dreaded “r” be aware in describing the machine outage, and it would not yet seem that any ransomware gang has claimed responsibility for the breach.
Within the Monday Xeet, MoneyGram acknowledged it had “identified a cybersecurity issue affecting certain of our systems.” Following that detection, the fee processor says it “immediately launched an investigation and took protective steps to address it, including proactively taking systems offline which impacted network connectivity.”
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It has since hired third-celebration cybersecurity consultants and is working with rules enforcement, we’re informed. “We are working diligently to bring our systems back online and resume normal business operations,” MoneyGram promised.
The cash transfer massive has entry to — and, we could assume, stores — a ton of sensitive buyer data. This presumably entails usernames and passwords, financial institution legend and credit card numbers, names, addresses, phone numbers, and diversified contact information that can moreover be historical, in the irascible hands, for financial and identity theft alongside with diversified fraud.
This makes MoneyGram a prime target for digital thieves searching for a payout, either in the form of an extortion fee or by promoting of us’s interior most information on darkish-web marketplaces.
In 2023, interior most fairness firm Madison Dearborn Companions performed the acquisition of MoneyGram for about $1.8 billion. The fintech industry claims to comprise extra than 150 million customers worldwide. ®
Speaking of cyberattacks… Arkansas Metropolis in Kansas is facing a ransomware infection at its water therapy facility that forced workers to swap to manual advantage watch over. Officers acknowledged buyer data is real, as is the water offer, and that a ransom demand had been made. No fee will likely be offered, we’re informed.
