Updated on: September 24, 2024
MoneyGram International, a popular global money transfer service, has been offline for several days due to what it said was a cybersecurity issue.
Upon detecting the issue, MoneyGram started an investigation into the matter and decided to take its services offline to safeguard its systems, the company stated in a post on X. It is collaborating with experts and law enforcement to resolve the situation and restore operations, according to a statement from the company.
“MoneyGram recently identified a cybersecurity issue affecting certain of our systems. Upon detection, we immediately launched an investigation and took protective steps to address it, including proactively taking systems offline which impacted network connectivity,” MoneyGram wrote on X.
“We are working with leading external cybersecurity experts and coordinating with law enforcement. We recognize the importance and urgency of this matter to our customers and partners. We are working diligently to bring our systems back online and resume normal business operations”.
“We recognize the importance and urgency of this matter to our customers and partners,” the statement continues. “We are working diligently to bring our systems back online and resume normal business operations.”
It’s unclear when the company expects to get its servers back online or any details about or how the issue was identified.
Despite being a major company valued at over a billion dollars, there has been a notable lack of news coverage regarding MoneyGram. According to the firm, MoneyGram serves over 50 million users across more than 200 countries and territories, processing over $200 billion annually.
Yet, the only information available comes from the countless users who are unsure of the status of their funds and are expressing frustration in online forums.
The company first posted about this over the weekend, saying it’s “experiencing a network outage impacting connectivity to a number of our systems.” It later confirmed in an X statement that it’s a cybersecurity issue.