MoneyGram Faces Service Disruption Amid Cybersecurity Threat

A cyberattack that began on September 20 impacted MoneyGram International Inc.’s services significantly, likely due to a ransomware attack, causing significant disruptions to its services. There were reports of outages affecting company networks, and by September 23, the company was able to confirm that the problem had come from a cybersecurity vulnerability. 

It took MoneyGram’s systems offline to prevent further damage, consulted with cybersecurity experts, and informed law enforcement authorities about its efforts as it worked to restore normal operations as soon as possible.

After widespread outages, MoneyGram’s website and several of its services were restored after widespread outages that impeded millions of people from sending money to families around the world due to widespread outages.

As MoneyGram announced on X, it immediately launched an investigation. 

It took preventative steps to address the situation, including working with leading cybersecurity experts and coordinating with law enforcement agencies to address it. As a follow-up to Wednesday’s note from MoneyGram, the company explained on Wednesday that several of its partners were now “available for sending and receiving money, as well as fulfilling pending transactions as part of MoneyGram’s restoration process.” 

MoneyGram’s app and several MoneyGram locations remain inaccessible for millions of customers and businesses

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