MoneyGram, a global financial payment services firm, publicly announced that it is recovering from a cyberattack that crippled its network. The company gave several updates on their progress in restoring some of its key transactional systems and the impact of the attack.
MoneyGram was founded in 1998, and its headquarters is based in Dallas, Texas. The firm has built a reputation over the years to become one of the top providers of global P2P payments services and money transfers. The company annually processes over 100 million transactions from tens of millions of users and operates in more than 200 countries and has a global network of 347,000 agent offices.
Most Americans have used their services at one point from money transfers, money orders, and official bank checks. They recently partnered with Coinme to provide cryptocurrency cash services. The company has over 2000 employees and boasts an annual revenue of about 1.3 million according to the public year-end report in 2022. Last year, MoneyGram was acquired by the private equity firm Madison Dearborn Partners. As of Tuesday, MoneyGram hasn’t released any updated information about which systems that were affected and what customer data have been compromised and if any money was stolen from the attack.