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Analysts expect Equifax to spend 2018 dealing with the aftermath of their huge data breach

Equifax’s recovery could be long and arduous after the gigantic data breach that saw around 143 million people have their confidential and personal information exposed.

Following the company’s attempts to clean up the mess, some believe that it may take much longer than expected to recuperate from the fallout of the breach. Unsurprisingly, one of the firm’s first actions was to follow the customary move of firing the CEO (with a cushy multi-million pension to boot) and hire a new one to take charge and sort out the problem. But when new CEO Paulino do Regos Barros Jr. was asked in a recent interview whether consumer data was now encrypted, many cringed when he was stumped and admitted: “I don’t know at this stage”.

Not the best start…
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Should corporate data breach victims be allowed to force compensation?

Consumer organisation Which? thinks so.

The not-for-profit charity is calling on the government to consider the protections and rights afforded to data breach victims. As the EU General Data Protection Regulation looms ever closer, Parliament has been debating the Data Protection Bill and what rights and responsibilities should be included.

Which? believes that consumers should be adequately protected when corporations neglect and fail in their data protection responsibilities in efforts to attempt to maximise profits and expand their businesses.
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Equifax takes financial hit following data breach scandal

Just like other companies who have suffered a publicised data breach, Equifax’s finances have reportedly taken a hit.

The credit-reporting agency enjoyed share prices at $146.26 in August 2017, but as soon as the breach was made public, the shares reportedly plummeted to just $92.98 in the following month.

Low third-quarter profits may reflect trust issues in the firm after Equifax suffered a data breach that exposed the sensitive information of over 145 million people, including thousands here in the U.K.

Our Data Leak Team are already acting for U.K. victims.
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Police data breaches compensation claims

So, what happens when the Police are the ones who break the law and potentially cause harm to us?

Whenever there is trouble, the police are the first people we think of to call for help. They’re here to keep us safe, and we’re all very grateful for the work they do. They come to our aid when we need them. They put their lives and bodies on the line to keep the public safe. They put dangerous criminals behind bars to protect us.

Unfortunately, however, they have been known to breach our trust by leaking personal sensitive information…
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The largest data leak compensation claim payouts

Data leaks can cause an absolute chasm of problems and, in reality, an unlimited amount of damage.

Personal information that’s been exposed can be used to create all sorts of damage and it may never end. The psychological effect can be hugely traumatic and distressing, so this type of damage can be very difficult to recover from. Monetary losses can be calculated in pounds and pence, but putting a figure on the cost of personal damage isn’t an easy science.

It can be done, though; and here are some of the highest recorded payouts.
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Equifax hack compromised 15.2 million U.K. records

The gigantic Equifax data breach that saw 143 million U.S. customers have their sensitive credit information breached also affected 15.2 million U.K. records as well. There are thought to be some 700,000 U.K. victims of the breach who may have had their personal and sensitive information stolen.

Equifax has said they will reach out to victims by post to notify them of the data breach and offer free access to some form of data risk mitigation service.
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Health insurance company in the U.S. pays out a record $115 million after millions had personal data hacked

The U.S.’s second largest health insurance company, Anthem Inc, has agreed to pay out a record-breaking settlement over a huge data breach from two years ago.

Around 79 million people had their personal information compromised during the hack, and it’s safe to say Anthem are paying for their mistakes given the settlement. Data breach victims include current and former clients, and it’s thought that lawyers will need to sift through a lot of information to pinpoint exactly who was affected, how much data was compromised, and the impact the breach had on them.
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The University of Greenwich Data Breach compensation claims

Six months ago in June of this year, the University of Greenwich found themselves in hot water when a student notified the BBC that a simple google search had revealed private and personal information accidentally uploaded by the University about numerous students.

Hundreds of post-graduate research students at the University were subject to this massive data leak, with a great deal of the information not only sensitive and private in nature, but also financially sensitive, leaving people open to the possibility of fraud.
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The 56 Dean Street Clinic Breach – A look back on what happened

Last year in September, a sexual health clinic based in Soho, London, revealed almost 800 of their patients’ private information to each other by mistake – i.e. the other patients – when an email was sent to the list of people where the names and addresses for the other recipients were not hidden.

This has resulted in one of the biggest data breaches in the history of the NHS, and has led to us fighting for the rights of numerous people who have been affected by the breach.
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Breach of NHS Patient confidentiality – more common than you think!

All members of the NHS have a duty to not disclose patient’s personal information. This is a part of the foundation of a patient/ doctor relationship. However, whilst most people believe their personal information is protected, data breaches by the NHS have been discovered to be more common than you think!

NHS data breaches can have serious consequences for the victims involved.
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