First American Financial Corp. Leaked Hundreds of Millions of Title Insurance Records

ronjor · May 24, 2019

The Web site for Fortune 500 real estate title insurance giant First American Financial Corp. [NYSE:FAF] leaked hundreds of millions of documents related to mortgage deals going back to 2003, until notified this week by KrebsOnSecurity. The digitized records — including bank account numbers and statements, mortgage and tax records, Social Security numbers, wire transaction receipts, and drivers license images — were available without authentication to anyone with a Web browser.
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https://krebsonsecurity.com/2019/05...dreds-of-millions-of-title-insurance-records/

guest · May 28, 2019

FirstAm Leak Highlights Importance of Verifying the Basics
May 28, 2019
https://www.darkreading.com/attacks...34825?_mc=rss_x_drr_edt_aud_dr_x_x-rss-simple

The Fortune 500 giant in the real estate industry missed a basic vulnerability in its website, leaving as many as 885 million sensitive records accessible to attackers. The fix: teaching developers the top 10 security issues and frequent testing.

The problem is that developers who do not consider the security implications in the design of their software application may look at a database of millions of records and decide to just index them using a sequential code and, worse, expose that code through the URL in a web application.
"[Y]ou should never expose direct references to your data," Jeff Williams, chief technology officer for Contrast Security, said in a statement on the incident.

First American acknowledged the vulnerability, calling it "a reported design defect that created the potential for unauthorized access to customer data" in a statement released on May 28.

"We deeply regret the concern this defect has caused," Dennis J. Gilmore, CEO at First American Financial, said in the statement. "We are thoroughly investigating this matter and are fully committed to protecting the security, privacy and confidentiality of the information entrusted to us by our customers."
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ronjor · May 31, 2019

NY Investigates Exposure of 885 Million Mortgage Documents

New York regulators are investigating a weakness that exposed 885 million mortgage records at First American Financial Corp. [NYSE:FAF] as the first test of the state’s strict new cybersecurity regulation. That measure, which went into effect in March 2019 and is considered among the toughest in the nation, requires financial companies to regularly audit and report on how they protect sensitive data, and provides for fines in cases where violations were reckless or willful.
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ronjor · Aug 12, 2019

SEC Investigating Data Leak at First American Financial Corp.

The U.S. Securities and Exchange Commission (SEC) is investigating a security failure on the Web site of real estate title insurance giant First American Financial Corp. that exposed more than 885 million personal and financial records tied to mortgage deals going back to 2003, KrebsOnSecurity has learned.
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guest · Aug 31, 2019

The Schall Law Firm Announces it is Investigating Claims Against First American Financial Corp. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
August 29, 2019
https://www.globenewswire.com/news-...vestors-with-Losses-in-Excess-of-100-000.html

The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of First American Financial Corp. (“First American” or “the Company”) (NYSE: FAF) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. First American was the subject of a report by computer security expert Brian Krebs published on May 24, 2019. Krebs alleged that the Company failed to secure its systems, allowing access for unauthorized parties to almost 900 million mortgage transaction records dating back to 2003. According to the report, First American admitted that it found a “design defect in one of its production applications that made possible unauthorized access to customer data,” eventually fixing the security hole. Based on this news, shares of First American fell by more than 6% on May 28, 2019.

The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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guest · Jul 23, 2020

NY Charges First American Financial for Massive Data Leak
July 23, 2020
https://krebsonsecurity.com/2020/07/ny-charges-first-american-financial-for-massive-data-leak/

In May 2019, KrebsOnSecurity broke the news that the website of mortgage title insurance giant First American Financial Corp. had exposed approximately 885 million records related to mortgage deals going back to 2003.
On Wednesday, regulators in New York announced that First American was the target of their first ever cybersecurity enforcement action in connection with the incident, charges that could bring steep financial penalties.

According to a filing (PDF) by the New York State Department of Financial Services (DFS), the weakness that exposed the documents was first introduced during an application software update in May 2014 and went undetected for years.
Worse still, the DFS found, the vulnerability was discovered in a penetration test First American conducted on its own in December 2018.

“Remarkably, Respondent instead allowed unfettered access to the personal and financial data of millions of its customers for six more months until the breach and its serious ramifications were widely publicized by a nationally recognized cybersecurity industry journalist,” the DFS explained in a statement on the charges.
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ronjor · Jun 18, 2021

First American Financial Pays Farcical $500K Fine

June 18, 2021
In May 2019, KrebsOnSecurity broke the news that the website of mortgage settlement giant First American Financial Corp. [NYSE:FAF] was leaking more than 800 million documents — many containing sensitive financial data — related to real estate transactions dating back 16 years. This week, the U.S. Securities and Exchange Commission settled its investigation into the matter after the Fortune 500 company agreed to pay a paltry penalty of less than $500,000.
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First American Financial Corp. Leaked Hundreds of Millions of Title Insurance Records

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