Compensation for a financial information data breach

We can offer No Win, No Fee representation for victims who claim compensation for a financial information data breach with us.

Although we often talk about claiming for the distress of a breach, those who lose money can be entitled to recover what has been lost as well. This is in addition to the distress for the fact that the breach has happened in the first place.

With the number of cyber incidents in the financial services sector said to be increasing, this is an important area for us to offer our expert advice and services for.

How does a claim for a financial information data breach work?

When you make a claim for compensation as a victim of a financial information data breach, the claim will typically be made up of two parts:

• General Damages;
• Special Damages.

General Damages covers compensation for the distress, suffering and any loss of amenity caused by a breach. A loss of control of information can be incredibly distressing for the victims, and when money is involved, the distress can be higher.

It’s not nice to think that someone, somewhere, has managed to steal money from us. It’s not fair, and it’s uncomfortable to even think about it. That’s why data breach compensation valuations account for this kind of suffering.

As well as the distress, we also have the Special Damages claim. This is for the losses and expenses, which for the most part, will be money that has been lost or stolen in the breach. if you lost £10,000.00, you could include a claim for £10,000.00 for this part of the case as well as the distress element.

Incidents on the rise

We may see a rise in the number of people coming forward for our expert help to claim compensation as a victim of a financial information data breach.

Recent data suggested that the number of reported cyber incidents in 2018 was tenfold that of the number in 2017. Most of them involved retail banks, with many stemming from ransomware and phishing attacks.

It doesn’t help that there has been so many data leaks and breaches in recent years that could allow criminals to put together a comprehensive amount of data about potentially millions of people. Think about it: if you were a victim of the BA, Ticketmaster and Equifax hacks, you’re potentially in a  very vulnerable position!

Getting help for a financial information data breach

We’re more than happy to offer our knowledge and advice on a free and no-obligation basis if you’ve been affected by a financial information data breach .

If you’re eligible for a case with us, we can also offer No Win, No Fee representation as part of our commitment to access to justice.

Please don’t hesitate to contact the team for more information.

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