Forex firm Travelex says ransomware behind last week's cyberattack

Travelex has yet to ascertain what data has been encrypted by the ransomware. — Reuters

Travelex said on Jan 7 that a ransomware attack led to its systems being taken offline last week and the foreign exchange company does not expect any material financial impact for its United Arab Emirates-based parent company Finablr Plc.

Ransomware works by hackers targeting companies with malicious programs that can cripple systems overseeing everything from supply chains to payments to manufacturing, removing them only after receiving substantial payments.