Fidelity National Financial Hit By A Major Cybersecurity Attack. They Are The Latest Financial Firm To Get Hit By A Major Cyber Attack

Fidelity National Financial Hackers launched a major cyberattack on Fidelity National Financial last week. The company said the attack led the system to shut down a huge portion of its net. This the latest attack on a financial institution by hackers.

The attack forced Fidelity National Financial to block access to certain systems. As a result, this caused major disruptions to title insurance and escrow. In addition, the company experienced disruptions to title-related services. The company also experienced disruptions with their mortgage transactions and real estate.

However, FNF’s majority-owned subsidiary, F&G Annuities & Life was not impacted by the incident. F&G is a provider of insurance solutions.

FNF notified law enforcement authorities and implemented certain measures to assess and contain the incident, the filing showed.

An unauthorized third party accessed certain FNF systems and acquired certain credentials, the company said. 

The cyber attack may have a material impact on the company.

FNF is the latest victim in the housing industry to be affected by cybersecurity threats.

Non-bank mortgage lender and servicer Mr. Cooper suffered a cyberattack in late October that forced the company to shut down certain technology systems, including access to its online payment portal.

Authorities say that a preliminary investigations revealed that customer data was exposed. However, this requires additional analysis to validate and quantify the scope and type of data compromised. 

Mr. Cooper restored its automated phone systems and website. However, it took them about two weeks to repair everything after the incident. FNF stated operational impacts will be limited to the fourth quarter.  However, Mr. Cooper doesn’t expect the incident will have a material adverse effect on its business and financial results.

Read More About Cyber Attacks On The Financial Industry On MFI-Miami.

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