MoneyGram, the world’s second-largest money transfer company, has confirmed that a cyberattack is responsible for the widespread system outages that have disrupted services and frustrated customers since Friday.

The company announced that the outage, initially attributed to a “network issue,” was caused by a cybersecurity incident.

The money transfer giant operates through a vast network of 350,000 physical locations spread across 200 countries, alongside its digital services, making the outage particularly disruptive to its users. Customers across various regions have expressed frustration over their inability to send or receive funds, a core service for the company's global clientele.

“MoneyGram recently identified a cybersecurity issue affecting certain of our systems. Upon detection, we immediately launched an investigation and took protective steps to address it, including proactively taking systems offline which impacted network connectivity,” the company said in a post on X. “We are working with leading external cybersecurity experts and coordinating with law enforcement.”

Last Friday, September 20, customers began reporting difficulties accessing their funds, completing transfers, and logging into MoneyGram’s mobile app or website. By Saturday, the company had publicly acknowledged the issue via social media platform X (formerly Twitter), citing a ‘network outage’ but providing no further details.

Now, it confirmed that a cyberattack was the cause behind the outage, but didn’t provide any details regarding its nature, or the timeline when it will be able to resume normal operation.