MoneyGram goes offline as it investigates cybersecurity insist
Oeisdigitalinvestigator.com:
MoneyGram International is working to restore is financial transfer method after taking its operations offline several days within the past because of of a cybersecurity pickle, the firm acknowledged on Monday.
The Dallas-based mostly mostly firm is working with cybersecurity consultants and law enforcement as its works to resume long-established industry operations, it talked about in a post on social media.
“We acknowledge the importance and urgency of this topic to our customers and companions,” MoneyGram acknowledged.
A spokesperson for MoneyGram would possibly well no longer straight be reached for additional comment.
In a post on Fb, Massy Remittance Products and services alerted customers within the Caribbean that MoneyGram services and products were down as of Saturday. Hundreds of MoneyGram outages were being reported as of slack Monday afternoon, in step with Downdetector, which tracks user reports of outages.
MoneyGram is widely accepted by immigrants across the U.S. to send payments to their dwelling nation and to pay bills. India and Mexico are the perfect receivers of such transfers, respectively, in accordance to the Federal Reserve Bank of Dallas.
Remittances from the U.S. to Mexico rose to a file $55.9 billion in 2022, in step with the regional Fed financial institution, which largely attributed the expansion to great employment in U.S. constructing, with the industry a high employer of Mexican migrants. The frequent monthly money transfer from the U.S. to Mexico came to $390 in 2022, it chanced on.
A see published by MoneyGram earlier this month chanced on that virtually half of its customers send money across borders to assist relatives buy meals, while higher than a 3rd wired money for emergency charges.
MoneyGram serves higher than 50 million folks in higher than 200 international locations and territories every 365 days, processing higher than $200 billion every 365 days, in step with the firm.
Kate Gibson is a reporter for CBS MoneyWatch in New York, where she covers industry and user finance.
