MoneyGram Goes Offline in Response to ‘Cybersecurity’ Issue

MoneyGram International is working to restore its financial transfer system after taking its operations offline several days ago because of a cybersecurity issue, the company said on Monday.

The Dallas-based company stated in a social media post that it is working with cybersecurity experts and law enforcement to resume normal business operations.

“We recognize the importance and urgency of this matter to our customers and partners,” MoneyGram said.

MoneyGram is widely used in Africa where immigrants use it to send payments to their home country and pay bills. 

According to the company, MoneyGram serves more than 50 million people in more than 200 countries and territories each year and processes more than $200 billion annually.

SOURCE: AGENCIES