The UK’s Post Office has ceased offering MoneyGram services following a significant cyber security incident at the American money transfer company.
A long-term contract between the two entities expired at midnight on September 30. Although plans were in place for renewal, the cyber incident that disabled MoneyGram’s services for several days last month altered those arrangements.
In communications with subpostmasters, as reported by Computer Weekly, the Post Office stated: “Post Office and MoneyGram have been in contract negotiations since June of this year and had expected to agree on a new contract to take effect from October 1, 2024. The contracting process was in the final stages when, unfortunately, MoneyGram experienced the cyber attack.”
The Post Office indicated it had proposed a shorter contract extension to allow both parties to “prioritize the service renewal activity” and assess any longer-term impacts on customers and subpostmasters. However, MoneyGram declined this offer.
The Post Office added: “We are still committed to finding a way to continue our partnership, and dialogue continues with MoneyGram. If there are any developments, we will inform you immediately.”