You could be entitled to claim compensation on a No Win, No Fee basis for a financial services data breach if you have been affected by an incident of this nature.
Our team here at Your Lawyers, as leading privacy claims specialists, will fight for your right to justice and do all we can to recover the compensation you could be entitled to receive. The best place to start is to speak to our friendly team for a free, no-obligation chat by contacting us here now.
Increasing risks of a financial services data breach
There are increasing risks of people falling victim to a financial services data breach given that much of the sector is now in the digital age, as are many of the industries in our lives these days. On one device, like a mobile phone, we can access apps to see all of our bank accounts and use them to pay monies and transfer amounts. We can also access our credit files and manage a significant wealth of our financial affairs.
Whilst this is fantastic for us to manage our money and our financial lives, we cannot ignore the fact that there are risks of a financial services data breach taking place given the greater ease of access to information. Scammers, fraudsters and cyberhackers will target people to commit a financial services data breach because of the nature of the information involved. If they can hack into bank accounts or steal sensitive financial information, they could use it to commit fraud and theft.
In today’s digital age, we cannot ignore these kinds of risks. People need to be wary to look out for being targeted for scams, fraud and theft. At the same time, organisations that manage the cybersecurity of websites and apps that access financial data must do all they can to make sure that they protect the information in their charge. Not only does this come down to robust cybersecurity, it also comes down to making sure that policies, procedures, practices, and systems are robust to prevent accidental information exposure and leaks.
Your right to claim GDPR damages now
The GDPR stipulates that, if you have lost control of your financial information, or any data about you, you could be eligible to pursue a privacy compensation claim. The law could entitle you to seek damages for any distress that you have suffered that has been caused by that loss of control.
You may have lost money or had to pay out expenses as a direct result of financial information privacy incidents, and this can also be considered as part of a claim. However, if you were fortunate enough to not have lost any money, you can still claim for the distress alone, which can still be significant. Simply knowing that your sensitive financial information has been exposed can cause considerable distress, especially knowing that you could be targeted by criminals at any time. We take this seriously when it comes to assessing data breach compensation pay-outs and amounts for our clients.
You can find out today if you are eligible to pursue a data breach claim by contacting our specialist team for free, no-obligation legal advice here now.
Example: Equifax data breach compensation action
The Equifax data breach compensation action is one that we represent clients for and is an example of a data breach affecting financial information. The incident arose in 2017 when the company failed to patch a known security vulnerability that allowed hackers to access very personal and sensitive information.