Dive Brief:
- First American Financial said about 44,000 people had their personal information breached in a December cyberattack, according to Tuesday filing with the Securities and Exchange Commission.
- The title insurance firm is in the process of notifying customers, however it did not detail what specific information was breached.
- First American took its systems down in late December following an attack that disrupted company operations. In February, the company said fourth-quarter earnings were materially impacted by the cyberattack. Revenue for the quarter, which ended Dec. 31, was $1.4 billion, a 15% decrease from the prior-year quarter.
Dive Insight:
In January, the company confirmed that outside threat actors stole and encrypted data.
Company CEO Ken DeGiorgio said in February the company did not expect a significant long-term impact from the attack.
Demand for title orders and related products appeared to have returned to normal levels, First American said. DeGiorgio said it was also unclear at the time how much of the financial impact would be covered by insurance.
Company officials were not immediately available for comment.
The attack against First American Financial was one of a series of attacks against companies related to real estate or lending in late 2023.
Fidelity National Financial was hit by a cyberattack in November, impacting 1.3 million customers. Loan servicing firm Mr. Cooper was hit by an attack in late October that exposed data on every current and former customer. The attack temporarily prevented millions of consumers from making loan payments.
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