MoneyGram is the world’s second-largest money transfer provider, serving more than 50 million people in more than 200 countries and territories each year. MoneyGram says it processes more than $200 billion in transactions annually. In 2023, MoneyGram was purchased for $1 billion by private equity firm Madison Dearborn Partners. U.S.-based money transfer giant MoneyGram has blamed an unspecified “cybersecurity issue” for an ongoing days-long outage affecting the company and its users. Why are the internet outages on the arise as people become more dependent on it ?
