The world’s second-largest money transfer company, MoneyGram, is under investigation by the U.K.'s Information Commissioner’s Office (ICO) after a significant cyberattack disrupted its services. The incident, which began on September 20, left customers unable to access their money or make transfers, leading to widespread complaints about service outages.
On Monday, the company confirmed that a cybersecurity incident caused the disruptions, although it did not disclose specific details about the nature of the attack. Early signs of trouble emerged with reports of the website being offline and customers unable to receive payments. MoneyGram characterized the situation as a “network outage” before acknowledging the cybersecurity breach.
The ICO has stated that it received a data breach report from MoneyGram and is now investigating the matter. The extent of the data breach remains unclear, but it raises concerns given MoneyGram's vast customer base of over 50 million users globally.
While MoneyGram’s website has since returned to functionality, it has largely refrained from providing detailed updates about the situation. The company has indicated it is working with external experts and law enforcement to remediate the attack and restore normal operations, but has not offered a timeline for when services will fully resume.
As of now, while some digital platforms and agent partners are operational, pending transactions are still being addressed, leaving many customers in limbo.
