The Town of Wasaga Beach has confirmed it is dealing with a cyber attack.

Hackers locked down the town's internal computer system on Sunday and are holding its data ransom.

The towns IT team is currently  negotiating with the hackers.

"The hackers have been in touch with us and we've communicated back to them, so we needed to find out exactly what they're looking for," said George Vadeboncoeur, Wasaga Beach C.A.O

Municipal officials told CTV News Friday the hack is commonly known as ransomware and they are currently working to prevent data on the server from being  compromised.

"From our understanding the perpetrators are not interested in the data, they're just interested in getting money," said Vadeboncoeur.

The town has been working with the OPP, RCMP, an IT consulting firm and the County of Simcoe.

At this point, officials don’t believe any residents data has been compromised.

"I just want the people of Wasaga Beach to know that I have all of the confidence in the world that our staff are doing a great job, working as long as it takes, in working with the best of the best that we can find in the field to get us through that, " said Mayor Brian Smith. 

It's business as usual at town hall. 

Residents who are concerned are being told to keep an eye on their bank accounts for irregular activity.