Almost a month after a crippling ransomware knocked Travelex’s IT network out of commission, the company is fully operational again.
Travelex, which was hit by a ransomware called Sodinokibi, said its UK money transfer service and wire offering is up and running again. Earlier this month, employees at the foreign exchange company were forced by a cyberattack on new year’s eve to resort to the use of pen and paper to record transactions.
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The attack affected major banks including Barclays, Lloyd’s, and RBS, which use Travelex to provide their customers with foreign exchange online. The disruptions caused major hassle for new-year holidaymakers and business travellers trying to access online currency services.
Travelex announced on 28 January that its customer-facing systems in the UK are working again, and that a phased restauration of its global system is in progress.
Hackers had demanded that the company pays $6m (£4.6m) before they would unlock its systems. Travelex has not revealed whether or not it paid the ransom.
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Parent company Finablr has said the cyberattack will have no impact on its 2019 results, nor was it expected to have a material effect on its current year performance.
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By GlobalDataAs for Travelex itself, a cyber-insurance policy, reportedly arranged by broker Gallagher, is expected to offset at least part of any losses.
