A MONEYGram agent in the Bahamas may have lost hundreds of thousands of dollars this weekend as a result of its system being hacked, The Tribune understands.

Harvey Morris, managing director of MoneyGram, Omni Transfers, explained that the agent's system was likely hacked by someone residing outside of the Bahamas. He said his own system was not directly affected, but did not know which agent's system was.

However, he said the effect of the breach of security was that MoneyGram set a cap of $400 on wire transfers on all their local agents this weekend until the threat was secured.

"It's the first time  ...

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