Cybersecurity and online fraud will also be discussed at Portfolio's Banking Technology event on November 5. Registration and details here!
At the end of September, MoneyGram was forced to shut down its systems due to a “cybersecurity issue.” The company now claims to have identified an unauthorized third party
Access and obtain personal data of “certain consumers.”
This information includes Names, contact information, dates of birth, national ID numbers, copies of government-issued identification documents, and other identification documents such as utility bills, bank account numbers, MoneyGram Plus Rewards numbers, transaction information, and, for a limited number of consumers, information related to criminal investigations.
Customers are advised to “remain vigilant”, while some are being offered free identity verification services for two years.
MoneyGram is the second largest money transfer provider in the world, With over 50 million users sending over $200 billion annually.
The attack has already cost the American company a loss in business: the British Post Office has decided not to extend its long-term contract with the company.
Cybersecurity and online fraud will also be discussed at Portfolio's Banking Technology event on November 5. Registration and details here!
The cover image is an illustration. Cover image source: Getty Images
