From: RegTech Analyst
Samsung Pay has been forced to suspend its international money transfer services as it has been drawn into Travelex’s ransomware problems.
Travelex provides Samsung Pay’s money transfer services. However, the foreign exchange company discovered a malware strain in its systems on New Year’s Eve and shut down its online services as a precaution, leaving customers unable to tap into their funds.
The shutdown has now also affected Samsung Pay, who relied on the platform for its own transfer services, Engadget reported.
It is not alone, several of Britain’s biggest banks have also been affected by the attack.
Samsung Pay issued a statement about the attack, saying, “We are aware of a recent incident impacting the internal systems of our partner, Travelex. Samsung Pay has not detected any abnormal activity on our own systems, and we have been informed by Travelex that there is no indication that Samsung Pay user transactions or customer data have been affected by the incident. As a precautionary measure, Samsung and Travelex decided to disable the international payment service at this time.”
The virus that has caused all the problems have been identified as Sidinokibi, which is also known as REvil and has been named as one of the four worst ransomware programs out there right now.
Travelex maintains that no personal data like credit card details and dates of birth has been exfiltrated in the breach.
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