MoneyGram Is Down and It Looks Like a Security Breach Might Have Happened — Details Explained

According to MoneyGram's website , they'll "be right back" because they are in the process of doing some mysterious updating. At least that's what we're being told as of Sept. 24, 2024. The company provides money transfer services to businesses and individuals all over the world, but has been unable to do so since the site went down.

Evidently, there was some sort of cybersecurity breach that could impact its millions of global customers. Naturally, this is terrifying given the fact that MoneyGram operates in over 200 countries and territories . So, what happened to MoneyGram? Here's what we know.

What happened to MoneyGram?

MoneyGram is working diligently alongside cybersecurity experts as well as law enforcement to get to the bottom of a cybersecurity issue that apparently began Sept. 21, 2024, reported CBS News . Regarding the possible cybersecurity breach, MoneyGram said they "immediately launched an investigation and took protective steps to address it, including proactively taking systems offline which impacted network connectivity," per a post on the company's Facebook .

On Sept. 24, MoneyGram once again took to Facebook to update its customers. "We continue to make progress in successfully restoring some of our key transactional systems," they said. The company assured everyone they were working around the clock to resolve the issue. "Once all systems are fully operational, transactions that are currently pending will be made available to customers," they wrote.

People commenting under the latest update were of course less than pleased with the situation. "Please hurry," wrote one woman. "Been down from Friday in Jamaica." Another suggested MoneyGram should waive their transaction fees for the rest of the year. "It’s so stressful for us and our family who is waiting on our support, not just for living expenses but medical also," they added. Much of MoneyGram's transactions occur between immigrants in the United States and families back in their home countries.