First American admits a 2023 cyberattack that affected 40K people

The First American insurance firm in the US revealed earlier this week that the cyberattack attack they sustained late last year compromised the data of about 44,000 individuals.

This company has been operating since 1889. Its primary focus is providing financial and settlement services to clients, such as real estate professionals, home buyers, and sellers. Currently, this California-based corporation has over 20,000 employees and earned $6 billion in revenue last year.

According to the company’s statement in December last year, the cyberattack forced its security team to take some of its systems offline to mitigate the impact. However, five months later, the insurance company disclosed the effects of the attack in a file with the United States.

 

An examination of the cyberattack on the First American company revealed that some systems could view sensitive data.

 

The SEC stated that an examination of the First American data breach revealed that the attackers accessed certain parts of its systems and could view sensitive data.

The affected company has determined that the threat actors may have accessed personal information pertaining to approximately 44,000 individuals without authorisation. Moreover, the company will send notification messages to potentially affected people and offer them free credit monitoring and identity protection services.

However, this is not the only cybersecurity mishap the company has incurred in the past months. In November last year, the corporation also agreed to pay New York State a $1 million fine for violating cybersecurity standards after exposing personal and financial information in a May 2019 security breach.

These attacks could be detrimental to any individuals involved in this insurance company as it is one of the US’ most prominent title insurance companies. Hence, it collects and stores the personal and financial information of hundreds of thousands of individuals annually on title-related documents.

Therefore, these potentially affected people should enrol in the company’s free credit monitoring and identity protection services to avoid the inconvenience caused by the cyberattack.