Cybersecurity Incident Hits Fidelity National Financial

Fidelity National Financial (FNF) has disclosed a cybersecurity incident that prompted the company to take down certain systems.

The company made the announcement in a recent Form 8-K filing with the Securities and Exchange Commission (SEC) dated November 19 2023.

A prominent player in the real estate and mortgage industry, FNF said it initiated an immediate investigation upon discovering the incident. The company enlisted the expertise of leading cybersecurity professionals, informed law enforcement authorities and implemented measures to assess and contain the breach.

As part of the containment efforts, FNF temporarily blocked access to specific systems, resulting in disruption to its business operations. Services related to title insurance, escrow, mortgage transactions and technology to the real estate and mortgage industries have been affected. 

However, the firm clarified the incident did not impact FNF’s majority-owned subsidiary, F&G Annuities & Life, a provider of insurance solutions.

The ongoing investigation revealed that an unauthorized third party gained access to specific FNF systems and acquired credentials. Fidelity National Financial is actively assessing the impact of the incident and the potential material effects on the company.

Meanwhile, the notorious Alphv/BlackCat ransomware group has claimed responsibility for the attack, announcing FNF’s inclusion on their leak site. 

The malicious actor did not explicitly state whether any data was taken from the targeted network, asserting that this information would be disclosed later if FNF refused to meet its ransom demands.

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Despite the challenges, FNF said it is committed to addressing the incident and aims to restore normal operations swiftly and safely. The company is also enhancing its cybersecurity measures to prevent future incidents.

The Form 8-K filing includes forward-looking statements cautioning investors about potential risks and uncertainties associated with the incident. Anthony J. Park, chief financial officer of Fidelity National Financial, signed the report on November 21 2023.

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