Finablr says no material impact from ransomware attack on Travelex

(Sharecast News) - Travelex owner Finablr said on Wednesday that there would be no material financial impact from the software virus that led to the foreign exchange business being taken offline last week.
The virus was first detected on 31 December but Travelex was unable to contain the spread of the ransomware, known as Sodinokibi, or REvil.

The criminals behind the hack told the BBC they were demanding $6m (£4.6m) or the company's computer systems would be deleted and customer data sold online. However, Abu Dhabi-based Finablr said in a statement that while there has been some data encryption, there is no evidence that structured personal customer data has been encrypted or that any data has been exfiltrated.

"Travelex is gradually restoring a number of internal systems and is working to resume normal operations as quickly as possible," it said.

Finablr's other six brands are not affected and are operating normally, the company said, adding that it does not expect any material financial impact for the group.

It will continue to monitor the situation closely and will update the market as required.

At 1000 GMT, the shares were down 16% at 129.50p.

The stock was likely being hit by news that shareholders Saeed Mohamed Butti Mohamed Khalfan Al Qebaisi and Khaleefa Butti Omair Yousif Ahmed Al Muhairi had sold 40.5m shares in the company or a stake of 6% through an accelerated bookbuild.