First American Financial’s Ops Disrupted by Catchy Cyberattack

December 28, 2023
1 min read

First American Financial Corporation and its subsidiaries have experienced a cyberattack that has disrupted their networks and business operations. The company has filed a report with the US Securities and Exchange Commission (SEC) regarding the incident and has taken steps to contain and remediate the unauthorized activity. The duration and extent of the disruption have not been estimated, but the company is working with experts and law enforcement in its efforts to restore its systems and resume normal operations. While the bank’s primary website may be inaccessible to some users, it continues to close loans safely and securely and accepts incoming wires. The cyberattack on First American Financial Corporation is part of a trend of security lapses in the financial industry, highlighting the need for strong cybersecurity measures to protect sensitive data and maintain trust in the industry. This incident follows a $1 million settlement reached by a subsidiary of First American Financial Corporation with the New York State Department of Financial Services in relation to a data leak that occurred in 2019. The frequency of these cyberattacks on well-known financial institutions raises concerns about the vulnerability of the industry to such attacks, and emphasizes the importance of taking a proactive approach to cybersecurity.

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