MoneyGram has confirmed that a recent cyberattack led to a breach of customer data and theft of transaction details. This attack took place in September and led to a five-day outage.
The company first detected the attack on September 27. It shut down some systems to prevent the breach from spreading, but customers were unable to access the service and were unable to transfer money to other users.
MoneyGram has now discovered that attackers accessed its network even earlier, between September 20 and 22, 2024.
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MoneyGram data breach
During this period, the attackers stole sensitive customer information, including names, dates of birth, email addresses, mailing addresses, phone numbers, transaction information, utility bills, government IDs, MoneyGram Plus Rewards numbers, bank account numbers, and Social Security numbers.
MoneyGram says the amount and types of data stolen vary by customer. Naturally, affected customers will receive breach , where MoneyGram will detail what information was exposed.
BleepingComputer reported that MoneyGram was breached through a social engineering on its IT help desk, where threat actors impersonated an employee.
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Once they gained access to the network, the attackers initially targeted Windows active directory services to steal employee information.
It is not known who is behind the attack. MoneyGram is investigating the incident with the help of external experts, but confirmed that it was not a ransomware attack.
This cyberattack serves as a warning to other financial institutions. It shows that they should measures cybersecurity. It is no longer enough to just have basic security protocols in place. Companies must constantly update and improve their defenses against sophisticated hackers. As technology continues to advance and play a greater role in our daily lives, it is vital that businesses invest in strong cybersecurity measures to protect their customers and their reputations.
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Additionally, governments and regulators need to regulations cybersecurity on financial institutions. This will not only help prevent similar breaches, but will also hold companies accountable for the security of sensitive customer data. It is important for all parties to work together to address the growing threat of cybercrime.
Source: www.bleepingcomputer.com
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