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Banks stop currency service after Travelex's cyber-attack

Thursday 9 January 2020 10:51 CET | News

After the ransomware cyber-attack on Travelex, a number of High Street banks have stopped customers ordering foreign currency.

Although Travelex’s computer system is down after hackers demanded USD 6 million in return for customer data, the company mentioned that there is no evidence customer data has been compromised. However, BBC reports that Travelex cashiers have been resorting to using pen and paper to keep money moving at cash desks in airports and on the High Streets, although they are  working with cyber recovery specialists to fix the issue.

And banks are now reporting their supply of notes from Travelex has dried up following the cyber-attack. Moreover, problems at Lloyds, Barclays, and Royal Bank of Scotland follow disruption at supermarkets Sainsbury's and Tesco – all getting their foreign notes from Travelex. RBS revealed they are currently unable to accept any travel-money orders either online, in branch, or by telephone due to issues with their travel-money supplier. At the same time, Lloyds and Barclays issued similar statements.
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Keywords: Travelex, banks, currency service, cyber-attack, ransomware, cyber recovery, travel money, Lloyds, Barclays, Royal Bank of Scotland
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: World
This article is part of category

Securing Transactions