MoneyGram International has been hit by a cyberattack that began on September 22, 2024, disrupting its money transfer services and forcing the company to take some systems offline. Initially reported as a network outage, the company has since confirmed it was a cybersecurity issue, impacting connectivity and preventing access to its website.

MoneyGram responded by launching an investigation, notifying law enforcement, and taking protective steps, including proactively disabling certain systems. Although they have not confirmed the exact nature of the attack or if ransomware was involved, the possibility remains, as no ransomware group has claimed responsibility.

Cyberattacks, particularly ransomware, have been increasingly targeting financial institutions, with victims paying significant sums in ransom. In the first half of 2024 alone, organizations have paid over $460 million, with a record ransom of $75 million paid by a single victim.