The SEC announced on Tuesday that it has claimed a settlement with one of the largest mortgage lenders in the United States over cybersecurity vulnerabilities. (((iStock).
Securities and Exchange Commission (SEC) on Tuesday Announcement Cybersecurity Violations When First American Financial Corp., One of the Largest Mortgage Title and Payment Services Companies in the United States, Discloses Confidential Personal Information Of Customers and Does Not Follow Appropriate Incident Response When Notifying Customers About Leakage And settled the charges.
The SEC’s order on this issue announced that cybersecurity journalists notified First American of a data protection vulnerability on the morning of May 24, 2019, and released more than 800 million images dating back nearly 20 years. I pointed out. The data leak image contained sensitive personal data such as social security numbers.
First American currently manages 21.07% of the market share of mortgage title companies, second only to Fidelity National Financial, which holds a 32.24% market share. It is one of four mortgage title companies that manages almost every mortgage transaction.
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