UK Post Office axes MoneyGram services in wake of cyber attack
Finextra
OCTOBER 1, 2024
The UK's Post Office is no longer offering MoneyGram services in the wake of a serious cyber security incident at the American money transfer giant.
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Finextra
OCTOBER 1, 2024
The UK's Post Office is no longer offering MoneyGram services in the wake of a serious cyber security incident at the American money transfer giant.
VISTA InfoSec
JULY 1, 2024
The breach was discovered after Intelbroker posted screenshots of the data it stole on Breach Forums, an infamous hacking site on the dark web where cybercriminals discuss various hacking methods and sell stolen data.
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It has also notified impacted individuals by sending notifications via post to those whose mailing addresses were available. For individuals without a mailing address, DPH posted a notice on its website to provide necessary information and resources. 5 / 5 ( 1 vote )
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These incidents often lead to increased operational costs as companies must invest heavily in repairing their systems and implementing stronger security measures post-breach. Additionally, the potential for class-action lawsuits can further strain financial resources.
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Conduct audits periodically post-partnership. Vet Third Parties Review details like security practices, past breaches, employee screening, and compliance levels before partnering with outside vendors who may get access to internal systems/data.
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