American peer-to-peer payments and money transfer company MoneyGram confirmed that a cyberattack caused its services to become unavailable.
On September 21, 2024, 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 September 20 to contain the attack.
On September 23, MoneyGram confirmed that it “recently identified a cybersecurity issue affecting certain of our systems”.
Online services were fully restored only on September 26.
The company remained largely silent about the cybersecurity incident beyond a handful of updates posted to its X account. However, the length and the severity of the outage points to ransomware. The fact that the company was spending an extended period of time restoring key systems further points to potentially its refusal to pay a ransom demand and recovery from backups.
In 2014, it was the second largest provider of money transfers in the world. MoneyGram operates in more than 200 countries and territories with a global network of about 430,000 agent offices, serving 150 million customer.
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