Source: Alistair Laming via Alamy Stock Photo

MoneyGram's systems and payment services are down due to a "cybersecurity issue," with no clear timeline as to when it will be back up and running once more.

The money-wiring service's in-person and online payment systems have been down since Friday, Sept. 20. The next day, MoneyGram posted on social media platform X, noting that it was experiencing a network outage that was affecting connectivity to its systems. 

"We are working diligently to better understand the nature and scope of the issue," the post said. "We recognize the importance and urgency of this matter to our customers."

On Sept. 23, MoneyGram posted an update to X, informing the public that it has launched an investigation into a cybersecurity issue and confirming that it took its systems offline. It also reported that it was working with third-party cybersecurity experts and coordinating with law enforcement, potentially indicating that the money-transfer company may have been victim to a data breach, though only time will tell.

Either way, as a financial services company, MoneyGram has access to a host of sensitive data, particularly bank accounts and credit card numbers, as well as names, addresses, and usernames and passwords. All of this makes MoneyGram and those it services a potential target for malicious actors and financial fraud or identity theft.