Hackers demand '$3 million ransom' from Travelex

7 January 2020, 15:00

Travelex has reportedly been targeted by a ransomware attack
Travelex has reportedly been targeted by a ransomware attack. Picture: PA

Foreign exchange company Travelex has been held to ransom by hackers, forcing staff to use pen and paper to record transactions.

Police are investigating the ransomware attack that forced the company to take all its sites offline after being hit by a software virus on New Year’s Eve.

Rumours suggest the hackers are demanding $3 million from the firm after copying "more than 5GB of users' personal data."

Travelex staff, who process 5,000 currency transactions every hour, have been forced to handle all exchange services manually.

The attack came as many holidaymakers were abroad for the festive period.

Ransomware attacks are when hackers take control of an individual's or an organisation's computer systems and block access until either a payment or other exchange has been completed.

It is believed the hackers have demanded money from Travelex in order for it to regain access to its systems.

The hackers have allegedly set a deadline for payment.

A planned maintenance message on the company's website
A planned maintenance message on the company's website. Picture: Travelex

Initial investigations by the firm found that no personal or customer data had been breached.

However, the Metropolitan Police's Cyber Crime Team are now making enquiries "with regards to a reported ransomware attack."

In a statement, the force said: "On Thursday, 2 January, the Met's Cyber Crime Team were contacted with regards to a reported ransomware attack involving a foreign currency exchange.

"Enquiries into the circumstances are ongoing."

The company are working with police and has set up a team of IT specialists and external cyber security experts to help with the investigation.

Following the attack, the chief executive of Travelex, Tony D’Souza, said: “We regret having to suspend some of our services in order to contain the virus and protect data.

“We apologise to all our customers for any inconvenience caused as a result.We are doing all we can to restore our full services as soon as possible.”

The decision to take the site down has affected other services that use Travelex, including Tesco Bank.

Twitter users have complained to Tesco Bank about the issue.

Tesco Bank replied to one customer: "We're unable to help with Travel Money queries here as our Travel Money is administered and managed by Travelex.

"In the meantime, you can still visit one of our in-store bureaux to collect or purchase your currency. Sorry for any inconvenience."

The cyber attack comes almost two years after Travelex was involved in another IT crisis, when it mistakenly leaked customer data from thousands of Tesco Bank accounts.

The group shared the database by mistake in March 2018, exposing the details of 17,000 people, including full names, emails, phone numbers, IP addresses and the final digits of bank cards.

More Latest News

See more More Latest News

Owen Cooper is reportedly the youngest actor to have been nominated for the award

Teen star Owen Cooper leads British Emmy charge as 'Adolescence' scores 13 nominations

Ministers are seeking to avoid a repeat of last summer's violent anti-immigration protests, which lasted six days

Fears of riots after secret Afghan resettlement scheme exposed following MoD data breach

Physician associates (PAs) should be banned from seeing patients who have not been reviewed by a medic to prevent the risk of "catastrophic" misdiagnoses, a Government-ordered report has found.

PAs should stop being used as substitutes for doctors to prevent ‘catastrophic’ misdiagnoses, report finds

Nurse Sandie Peggie's employment tribunal resumes today.

Changing room row tribunal set to resume

Yoga, tai chi, jogging and walking could be the best forms of exercise to help tackle the sleep disorder insomnia, a study suggests.

Suffering from insomnia? Try yoga, tai chi or jogging, new study suggests

Bradley Murdoch, the killer of British backpacker Peter Falconio has died after being moved to palliative care last month.

Bradley Murdoch, Australian killer of British backpacker Peter Falconio, dies aged 67

The TV chef, 59, broke his silence on Tuesday night after the show's producers Banijay UK confirmed his contract will not be renewed.

John Torode breaks silence after being axed from MasterChef over racism claim

Last week, Dylan Earl, aged 20, and Jake Reeves, 23, became the first people to be convicted under new National Security Act powers after they were recruited by the Russian mercenary group Wagner.

Teenagers targeted by Russia and Iran for sabotage missions in Britain as state-backed threats increase five-fold

Exclusive
The Conservative leader made the declaration after it was revealed that the government spent nearly two years using an unprecedented superinjunction to prevent the public from learning about the breach.

Ministers must have power to sack civil servants after 'extraordinary' MoD data breach, Badenoch tells LBC

Exclusive
Penny Mordaunt spoke with Andrew Marr about the MoD data breach.

The person responsible for the MoD data breach should lose their job, Penny Mordaunt tells LBC

Exclusive
Defence Secretary John Healey refuses to say whether anyone has lost their job over the Ministry of Defence data breach.

Nobody has been fired over £7 billion Afghan data breach, LBC understands

Exclusive
A former Afghan interpreter told LBC that the Taliban may have used the major Ministry of Defence (MoD) data breach to target Britain's allies.

Taliban has used major data breach at MoD to target those who helped Britain, says former Afghan interpreter

People search for their belongings amid the debris of destroyed houses in the aftermath of Israeli bombardment in Gaza City, on July 15, 2025.

Israeli strikes kill more than 90 Palestinians overnight, including 19 members of the same family

Dr Nooralhaq Nasimi, who came to the UK in 1999 and founded the Afghanistan and Central Asian Association (ACAA) to help others, said the Government must “accept full responsibility (and) offer meaningful compensation” to those affected.

MoD data breach has 'endangered lives' and 'betrayed' thousands of Afghans, says campaign group

MasterChef presenter John Torode will not return to the BBC cooking show after producers Banijay UK confirmed his contract will not be renewed.

MasterChef star John Torode sacked - after allegation he used 'racist language' upheld in Gregg Wallace report

Keely Hodgkinson runs at the London Athletics Meet in 2024

Keely Hodgkinson out of London Diamond League