Ransomers Demand £4.6m After Travelex Hack

On New Year’s Eve, the foreign exchange company Travelex was forced to take its services offline following a ransomware attack by cyber hackers. 

They are reportedly threatening to release customer data such as card payment information and dates of birth if Travelex doesn’t pay the $6 million (£4.6 million) bitcoin ransom. Despite this, Travelex says there is no evidence that any personal data has been compromised.

The impact

1. Travelex staff have had to go back to basics

The travel money service provider has had to turn back time in its 1200 airport and non-airport locations. Instead of operating through the company’s usual computer-based system, staff are having to use pen and paper to process customer orders. Whilst it’s fortunate Travelex are able to provide in-store services despite the hack, they’re still currently unable to process any orders online.

2. Customers are in limbo

Many customers who ordered currency via Travelex’s website just before the site went down have now been told that they can’t collect their cash, as their details can’t be accessed.

Others have complained that they are stranded abroad without access to the money they put on their Travelex ATM cards. All they are being told is to wait until the company fixes the problem, with no indication of when that will be.

3. Banks and other large companies have also been affected

Unfortunately, it’s not just online Travelex customers that have been impacted by the attack. The currency trader also provides foreign exchange services for customers of Barclays, Virgin Money and HSBC, as well as the banking arms of Tesco and Sainsburys.

The importance of cyber security

This recent Travelex cyber attack really does highlight the importance of top-grade system security. At ICT Solutions, we provide businesses all over the UK with cyber security services such as ransomware detection, anti-virus software and much more.

Although we’re based in the Baltic Triangle area of Liverpool, we can assist you no matter where you are. Fill in our easy contact form to receive a quote, or get in touch on 0151 230 2424.