First American Transcript

So, we talked a couple of weeks ago about our friends over at Equifax and how they took a huge hit here. It cost them over a billion dollars, probably I would guess close to one and a half billion, but I don’t know for sure. They haven’t disclosed all of the numbers. This week, they did reveal that they had to do a bit of a write off of about a little more than half a billion dollars. But there’s another one out there, and It is crazy.

It is the one, I mentioned, from Krebs on security, concerning the website for First American Financial Corp, a Fortune 500 real estate, title insurance giant.  I mean giant, billions of dollars in annual revenue. First, America Corp leaked hundreds of millions of documents related to mortgages going back to 2003. Krebs on security found this leak, and they went ahead, and they fixed it.  Isn’t that nice of them, after the horses got out of the barn. So, these are digitized records that included bank account numbers, bank statements, mortgage statements, tax records, social security numbers, wire transaction receipts, driver’s license images, were all available without authentication to anyone with a web browser. I find that incredibly unbelievable that a company that employs 18,000 people, you’d think they’d have some security people on staff. And they brought in more than 5.7 billion. There you go. That’s the number from Krebs article. Now Krebs found out a bit about it because of a real estate developer, out in Washington state, who said he’d had little luck getting a response from them.

It just goes on and on, just like last week with what happened with Intel. And the reports of their colossal security problem. And they, it sounds like, literally tried to buy off the people who reported this massive bug in the Intel chips. It’s just amazing. So it goes on and on the earliest document number available on the site wasn’t document number 75. The dates and documents get closer to real-time each forward increment in the record number. I have the article up on my website, we’ve got a link to it if you want to see it.  It’s it is just stunning. So, who knows what happened has happened here, again, we have an example of a company that did not keep track of the security problems. And what do you want to bet they did not keep track of data x filtration, and what the criminals stole? Big deal. Big problem.

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