MoneyGram International’s money transfer services are down as the company is struggling with a cyberattack that forced it to take certain systems offline.
The incident started on September 22, when MoneyGram announced that a network outage was affecting the connectivity of some systems.
Three days later, however, the outage continues and MoneyGram International’s website is inaccessible as the company is scrambling to restore the impacted systems.
“MoneyGram recently identified a cybersecurity issue affecting certain of our systems. Upon detection, we immediately launched an investigation and took protective steps to address it, including proactively taking systems offline which impacted network connectivity,” the company said on X (formerly Twitter).
“We recognize the importance and urgency of this matter to our customers and partners. We are working diligently to bring our systems back online and resume normal business operations,” MoneyGram added.
The company says law enforcement was notified of the incident but shared no further details on the type of intrusion that caused the outage, nor did it say whether ransomware was involved.
Considering MoneyGram’s response to the incident, however, the use of file-encrypting ransomware cannot be ruled out, but SecurityWeek has not seen any known ransomware group taking responsibility for the attack.
Ransomware attacks have increased in frequency and sophistication in 2024, with victims estimated to have paid over $460 million in ransoms during the first half of the year, with a record payment of $75 million made by a single victim.
Organizations in the financial sector are frequent victims of ransomware, with recent victims including LoanDepot and Patelco Credit Union. Auction house Christie’s and Dutch bank ABN Amro also disclosed data breaches related to ransomware attacks this year.
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