Police are investigating a cyberattack on foreign exchange company Travelex which said it is being held to ransom by hackers.

The firm took down its websites on New Year’s Eve when the hackers launched their attack.

Travelex confirmed a software virus had been discovered a week ago. In a statement, the Metropolitan Police said: “On Thursday, January 2 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.”

A software virus that threatens to delete your files unless a ransom is paid is known as ransomware.

More:  Cyberattack shuts down Travelex systems

Action to take down the company’s websites was made as a “precautionary measure” to protect data and prevent the spread of the virus.

According to the BBC, a ransomware gang called Sodinokibi is behind the attack and wants Travelex to pay £4.6 million.

The gang has reportedly claimed to have downloaded 5GB of sensitive customer data.

However, Travelex UK has said that an investigation into the attack showed “no indication that any personal or customer data has been compromised”.

“The company’s network of branches continues to provide foreign exchange services manually,” the firm added.

A team of IT specialists and external cyber security experts “have been working continuously since New Year’s Eve to isolate and restore affected systems”.

Issuing an apology to customers, the company added: “We are doing all we can to restore our full services as soon as possible.”

Travelex describes itself as the world’s leading foreign exchange specialist and operates in more than 70 countries, including 1,200 branches and 1,000 ATMs.