MoneyGram has reported a “cybersecurity issue” that has resulted in an outage, preventing users from sending money for several days.
On Saturday, the company announced on social media that it was “experiencing a network outage impacting connectivity to a number of our systems.” By Monday, MoneyGram confirmed it had “identified a cybersecurity issue affecting certain of our systems.”
As the world’s second-largest money transfer operator, MoneyGram serves over 50 million users who collectively send more than $200 billion annually. In response to the cybersecurity incident, the company took certain systems offline and is collaborating with external cybersecurity experts while coordinating with law enforcement.
In a Tuesday update, MoneyGram stated: “We continue to make progress in successfully restoring some of our key transactional systems. Our dedicated team is actively working around the clock to resume normal business operations.” However, no timeline has been provided for when services will be restored, with the company mentioning only that “once all systems are fully operational, transactions that are currently pending will be made available to customers.”