Money transfer giant MoneyGram has confirmed that it has suffered a cyberattack after dealing with system outages and customer complaints about lack of service since Friday. Upon detection, they proactively took their systems offline, which impacted network connectivity. The company has not publicly shared the type of attack they experienced, the expected duration of the extended outage, and the extent of loss of connectivity to their systems.

MoneyGram has an extensive network of 350,000 physical locations in 200 countries and processes over 120 million transactions annually from tens of millions of users. With its massive customer base, a potential data breach on the company may have far-reaching repercussions for lots of people worldwide. Read more about this story on our LinkedIn page