US insurance firm First American reported that over 44,000 customers could have been impacted by the massive data breach last December.

The company confirmed the scale of a ransomware attack on Tuesday, over five months since the data breach that caused the company's and customers' data accessed illegally.

First American vowed to "provide appropriate notifications" to potentially affected customers, although no reported incidents of hackers using the stolen First American data were made.

First American earlier believed that the hackers may have accessed "exfiltrated data and encrypted data on certain non-production systems."

The filing did not also provide specific details on the stolen data or how customers could be compensated for the data breach. 

The US insurance giant first reported the attack after its online systems suddenly went down in late December, just weeks after it settled an earlier data breach that led to hundreds of millions of customer records being compromised.

Also Read: Hacker Steals 340,000 Social Security Numbers from a US Consulting Firm

How to Protect Your Data from First American Data Breach?

While First American did not provide many instructions on how to help customers protect their data, people can still employ some tried-and-tested methods to keep their private data away from hackers.

For financial assets and accounts, it is best to update all passwords and security details to make it hard for threat actors to access personal data.

If it is applicable, adding a multi-factor authentication system can help provide better security to accounts.

It is also recommended to update all social contacts and government details, including the social security number, to see if there have been any previous attempts to use personal information without authorization.

Lastly, contact First American to determine the next best steps to take after confirming that you have been impacted by the data breach.

Ransomware Attacks Threaten Financial, Economic Stability in the US

The cyberattack on First American is only one of the most notable financially-motivated attacks on the US as threat actors increase their operations in Western countries.

The International Monetary Fund has earlier warned that continued service disruptions in the financial sector could endanger countries' economic stability amid "greater digitalization and heightened political tensions."

The organization urged affected countries to increase their cybersecurity capabilities as they work with international groups to curb the impact of ransomware attacks.

So far, the Federal Bureau of Investigation has revived efforts to crack down on international cybercrime groups with several notable successes already made.

Related Article: Increased Cyberattacks in Financial Sectors May Cause Economic Instability, IMF Warns