MoneyGram confirmed a data breach that exposed sensitive customer data to hackers, causing its service to go offline for five days in September 2024.
The American payments and remittance platform, which operates from 350,000 locations in 200 countries and through mobile apps and websites, revealed that hackers stole varying amounts of sensitive customer information.
This includes transaction details, email and postal code, name, phone number, utility bill, government ID, and social security number.
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What you need to know
peepee computer first reported News of the MoneyGram cyber attack on October 5th noted that hackers used social engineering attacks against the company's internal help desk. At the time, the company did not disclose much information about the attack, saying: ”After working with leading external cybersecurity experts, including CrowdStrike, and coordinating with U.S. law enforcement, the majority of our systems are now operational and our money transfer services have resumed. ”
In an email to the magazine, MoneyGram confirmed that there is “no evidence that ransomware is involved in this issue, and no reason to believe that it affected any of our agents' systems.”
however, Notice on websiteMoneyGram has revealed more information about the cyber attack. The company said the attackers had accessed its network earlier, between September 20th and September 22nd, and learned of the breach on September 27th.
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What information was stolen?
While hackers accessed MoneyGram's network, they were able to access consumer names, contact details (such as phone numbers, email addresses, and physical addresses), dates of birth, and a limited number of social security numbers and government-issued IDs. Copies of your documents (such as your driver's license), other forms of identification (such as your utility bill), and your bank account number.
MoneyGram said the hackers also accessed MoneyGram Plus Rewards numbers, transaction details (such as dates and amounts), and criminal investigation information (such as fraud incidents) for a limited number of customers. The type of information disclosed varies by individual.
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6 ways to protect yourself from data breaches
1. Enable two-factor authentication (2FA) on all accounts. One of the most effective ways to protect your personal and financial information from hackers is to enable: two-factor authentication Everywhere possible. This provides an extra layer of security by requiring two forms of authentication, such as a password and a one-time code sent to your mobile phone, before granting you access to your account. Even if your password is stolen, 2FA can prevent hackers from gaining access to your account.
2. Monitor your financial accounts regularly. After a data breach, it's important to regularly monitor bank statements, credit card transactions, and even small purchases, especially if sensitive financial information such as transaction details or bank account numbers has been compromised. is. Look for any fraudulent activity, no matter how minor, and report it to your bank or service provider immediately.
The MoneyGram breach allowed hackers to access customers' financial transaction details, potentially leading to fraud and fraudulent transactions. By checking your account statements frequently, you can spot unusual activity early and take action before significant damage occurs.
3. Change your password and use a strong, unique password. MoneyGram customers who reuse passwords across multiple accounts should update their login information immediately. A strong password is a combination of uppercase and lowercase letters, numbers, and symbols that make it difficult for hackers to guess or crack. Please consider using . password manager Securely store and generate complex passwords.
4. Sign up for identity theft protection. Given that hackers stole Social Security numbers, government-issued IDs, and other sensitive information in the MoneyGram breach, affected customers should consider signing up for identity theft protection. These services notify you when someone tries to open a new line of credit or loan in your name, so you can take immediate action to prevent identity theft. You can also place fraud alerts or freezes on your credit report to prevent unauthorized access.
Those affected by the MoneyGram breach, where personally identifiable information such as government IDs and social security numbers were compromised, can provide an extra level of security by signing up for identity theft protection services. Check out our tips and recommendations on how to protect yourself from identity theft.
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5. Beware of phishing attacks and scams. After a data breach, we often see data growth. Phishing attackIn , scammers pose as legitimate companies and try to trick users into revealing additional personal information. Always double-check the authenticity of emails, especially those that request sensitive information. Don't click on links or download attachments from suspicious sources. If you have a request for information, please contact the company directly for confirmation. Because the MoneyGram breach resulted from a social engineering attack, customers should be wary of emails, phone calls, or text messages that purport to be from MoneyGram or affiliated entities. Always check your communications before taking action.
The best way to protect yourself from malicious links that can install malware and access your personal information is to install antivirus software on all your devices. This protection also warns you about phishing emails and ransomware scams, keeping your personal information and digital assets safe. Get my picks for the best antivirus protection products of 2024 for Windows, Mac, Android, and iOS devices.
6. Invest in a personal data deletion service. No service promises to remove all data from the Internet, but if you want to constantly monitor and automate the process of removing information from hundreds of sites over an extended period of time, a removal service is a good option. is the best. Check out my recommended data deletion services here.
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Cart important points
Big tech companies are struggling to curb cyberattacks. Every month we hear about new data breaches that put the data of millions of Americans at risk, but in most cases these companies receive nothing more than a slap on the wrist. Meanwhile, individuals whose data is stolen will suffer the consequences for years to come. MoneyGram and other companies need to invest more in their cybersecurity infrastructure to prevent such breaches from becoming the norm.
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