Travelex restores some systems

Over two weeks after the ransomware attack that forced Travelex staff offline to calculate foreign currency exchanges, the company has said that some systems are back up and running.
The firm has released a number of short statements since cyber criminals held the firm to ransom on 31st December 2019, causing chaos for New Year holidaymakers and business travellers seeking online currency services.

The world’s largest currency dealer claimed in an update on the 17th January that it was resolute in restoring online and customer-facing systems, and the phased restoration of their systems is now firmly underway.

CEO Tony D’Souza said: “We have made good progress in our recovery and I’m pleased to say our first customer-facing systems are now successfully live. We have a clear strategy for the phased restoration of services, prioritising the UK as this is our single largest market.”
However, while D’Souza confirmed that the system used by staff is now working, there was still no word on when the firm's main UK website would be returned to service, meaning customers are still unable to order currency online, either from Travelex itself or through the network of banks that use its services, including Barclays, Lloyds, RBS, and the finance websites of Sainsbury's and Tesco.

In the update, the firm also revealed that the root cause of how the malware entered is still under investigation and they are working with external cyber experts who are undertaking extensive investigations and analyses.

Ongoing complaints include concerns over the security of customer data and the financial ramifications of cash that remains in limbo. Banking trade body UK Finance said that even after Travelex restores full service it could take time for the banks to resume normal service.

    Share Story:

Recent Stories


Are property insurers ready for timber
The Structural Timber Association is gearing up to help all stakeholders in the construction supply chain to fully appreciate the advantages of building in timber, how to deliver such projects and most importantly to understand and manage the risks.

The changing face of BC and WAR
The working environment has changed quite dramatically for many over the last six months. With social distancing and the rise of homeworking, it is not just how businesses operate that has changed, but also how they recover. In this podcast we discuss some of the challenges created by the quick shift to home working, why the office may not have seen its last days and how the current environment can impact the ability of a business to recover.