Payoneer has acknowledged instances of fraud involving the hacking of a limited number of customer accounts. The hackers used fake links to phishing sites to obtain customers’ login credentials or compromise their mobile phones. The company has taken action to contain these attempts and is working with regulators, mobile carriers, and law enforcement agencies to combat financial crime. Payoneer also continues to educate its customers on how to keep their accounts safe and protect their confidential information. Restitution for the lost funds is being pursued, but recovery is not guaranteed in every case. In the meantime, affected users in Argentina are advised to withdraw funds from their accounts or disable SMS-based 2FA and reset their account passwords.