MoneyGram International 's money transfer services are down as the company battles a cyberattack that forced it to take some systems offline.
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The incident began 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 the MoneyGram International website is inaccessible as the company attempts to restore the affected systems from the cyberattack.
“MoneyGram recently identified a cybersecurity issue affecting some of our systems. Upon discovery, we immediately initiated an investigation and took protective measures to address it, including proactively taking systems offline that impacted network connectivity,” told X.
"We recognize the importance and urgency of this issue for customers and partners. We are working diligently to bring our systems back online and resume normal business operations," MoneyGram added.
See also: Port of Seattle: Rhysida ransomware behind August attack
The company says law enforcement was notified of the incident, but it did not share further details about the type of intrusion that caused the outage, nor did it say whether ransomware.
Considering MoneyGram's response to the incident however, the use of file-encrypting ransomware cannot be ruled out, but so far no known ransomware group has claimed 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 in the first half of the year, with a record $75 million from a single victim.
Organizations in the financial sector are often 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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A cyberattack, such as the one that affected MoneyGram’s systems, is a malicious attempt to compromise or damage computer systems, networks, or deviceswith the aim of stealing, altering, or destroying data. These attacks can take many forms, including the distribution of malware, phishing , or denial-of-service (DoS) attacks. As reliance on technology increases, protection against cyberattacks is becoming increasingly critical to the security of personal, corporate, and government data, requiring ongoing updates and defense strategies.
Source: securityweek
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