September 24, 2024 at 09:36AM
MoneyGram International’s money transfer services are disrupted due to a cyberattack, forcing certain systems offline since September 22. The company is working to restore systems and has notified law enforcement. While ransomware involvement is not confirmed, ransomware attacks have increased in 2024, particularly targeting financial organizations. Notable victims include LoanDepot, Patelco Credit Union, Christie’s, and ABN Amro.
From the meeting notes, it is clear that MoneyGram International is currently dealing with a cyberattack that has caused a significant network outage. The attack resulted in the company taking certain systems offline, leading to disruption in their money transfer services and making their website inaccessible.
MoneyGram has publicly acknowledged the cybersecurity issue and has assured customers and partners that they are working diligently to restore the impacted systems and resume normal business operations. Despite notifying law enforcement, the company has not provided specific details about the type of intrusion that caused the outage or confirmed whether ransomware was involved.
The notes also highlight the increasing frequency and sophistication of ransomware attacks, with various organizations in the financial sector falling victim to such incidents in recent times, including LoanDepot, Patelco Credit Union, Christie’s, and ABN Amro. The meeting notes also mention the significant financial impact of ransomware attacks, with victims estimated to have paid over $460 million in ransoms during the first half of the year.
In summary, the meeting notes provide a comprehensive overview of MoneyGram International’s cyberattack and the broader landscape of ransomware incidents affecting organizations in the financial sector.