Mortgage Titan Fidelity National Hit by BlackCat Hack: 1.3 Million Customers’ Data Compromised

Facing a cyber shakedown, Fidelity National Financial fesses up: 1.3 million customers’ data snagged by BlackCat gang. But don’t worry, they say, it’s not *that* material—just some lawsuits and free credit monitoring giveaways. Who needs systems when you’ve got humor, right?

Hot Take:

Looks like Fidelity National Financial might be redefining ‘customer service’ to include complimentary credit monitoring after their unexpected ‘BlackCat special’ offer. I guess data is the new doorbuster deal—1.3 million customers probably didn’t have that on their holiday wish lists.

Key Points:

  • Fidelity National Financial experienced a data breach affecting 1.3 million customers, and it’s the cybercriminal group ALPHV/BlackCat RSVP’ing credit to their shindig.
  • The initial disclosure was vague, but Fidelity’s amended SEC filing spilled the beans on malware and stolen data—oh, and the party favors include credit monitoring.
  • The breach is a hot topic in the courtroom too, with Fidelity now playing the role of defendant in several lawsuits.
  • Fidelity’s financials suggest they could absorb the cyber blow without breaking into their piggy bank.
  • Meanwhile, LoanDepot joins the breach bash, hinting at a similar cybersecurity conundrum.

Need to know more?

The Cybersecurity Soirée No One Wanted an Invite To

Fidelity National Financial (FNF) might as well have rolled out the red carpet for the uninvited guest, ALPHV/BlackCat, who gatecrashed their IT network last November. The ransomware gang claimed the spotlight shortly after the breach, but the details they revealed were as skimpy as a Hollywood starlet's dress.

Forensic Party Favors

The initial SEC filing by Fidelity was as clear as mud, but the amended 8-K report finally gave us some confetti—malware details and confirmation of data exfiltration. It's like finding out what's in the mystery box, only everyone's hoping they didn't win.

Lawsuit Limbo: How Low Can You Go?

Fidelity's dance card is full with several lawsuits related to the incident. They're in legal limbo, trying to duck under the "material impact" bar. But with their hefty financial cushion, they might just limbo their way through without a stumble.

A Tale of Two Lenders

Comparing FNF's financial fortitude to Mr Cooper's $25 million cyber mop-up, it seems FNF might just shrug off the attack like a billionaire shrugs off a parking ticket. Their 2022 profit was the financial equivalent of "I woke up like this"—flawless and unfazed by petty cybercrimes.

LoanDepot's Déjà Vu

And just when we thought the cybersecurity party was winding down, LoanDepot pops in with a "me too" moment. Their "cyber incident" sounds like a remix of Fidelity's hit—system access, data encryption, and a cryptic SEC filing that's more teaser than trailer.

Securing the VIP Section

As Fidelity beefs up their cybersecurity bouncers and starts piecing their systems back together, customers are left holding the bill—luckily, it's just for credit monitoring this time. The incident's aftermath is a stark reminder that in the world of cyber risk, it's always open bar, and everyone's tab is at stake.

Tags: Credit Monitoring Services, customer data theft, data breach, financial industry security, legal implications, malware attack, ransomware gang