Compensation if your financial data has been compromised

You could be entitled to claim compensation if your financial data has been compromised, even if you have not lost any money as a result of the incident.

The GDPR can entitle you to claim compensation for the distress that you have suffered from and we, as Leading Data Leak Lawyers, may be able to represent you for a case on a No Win, No Fee basis.

Our team is proud to provide free, no-obligation legal assessments for potential compensation cases – all you need to do is contact us here now.

Claiming compensation if your financial data has been compromised

You could be entitled to claim compensation if your financial data has been compromised arising from a data breach, leak or a hack. Depending on how the information has been compromised or exposed may depend on whether we can help you and, if we can, we may be able to represent you for a case No Win, No Fee.

Ultimately, if your financial data has been compromised as a result of some form of negligence on the part of the organisation responsible for protecting your information, that is when you could be eligible to pursue a compensation case. If it has happened through some kind of accidental disclosure or leak then the responsibility of that can fall onto the organisation at the centre of the incident. If the matter has arisen from a cyberattack, claiming can come down to whether more could have been done in terms of protecting your information.

The GDPR puts an important responsibility on organisations to protect the information that they store and process. Any breach of the GDPR can allow victims whose information has been misused or exposed to claim compensation for distress and losses that may have been caused.

You do NOT have to have lost money to claim

Many people may think that, if your financial data has been compromised, you have to have lost money or paid out in expenses to pursue a claim. However, this is not the case as you can claim compensation for this just the distress that you have suffered from that is caused by the loss of control of your personal information.

Whilst fraud and theft can be common risks associated with such information being exposed, there are a lot of systems and security processes in place nowadays to prevent fraud and theft from occurring. We find that, in most cases, people do not end up losing money because of their financial data being exposed, but it can still be distressing to know that it is now in the hands of criminals who may – or have tried to – misuse it. It can be incredibly worrying to think that there are people out there who may know our financial data well enough to try to purchase things in our name or take out credit in our name. It can be incredibly scary.

In most claims for data breach compensation, the victim is pursuing damages for the distress that they have suffered from as a result of what has happened. When it comes to how we measure distress, we will often look at things such as the nature of the information involved and how badly the person has been affected, which can be quite subjective.

To find out if you are entitled to pursue a data breach compensation claim, please contact our legal team for expert advice here now.

Data breach compensation amounts in the UK

When it comes to potential data breach compensation amounts that people could receive in the UK, you could be entitled to recover thousands of pounds depending on the nature of the information affected and how this has impacted you. It can be very subjective because different people could be affected in very different ways, even when the same information about them has been affected. The context of the data and how it might affect you must also be considered.

What we can tell you is this: as leading experts in this area of law, our average settlement is just over £6,000 in damages for our clients. We represent thousands of people who are pursuing No Win, No Fee claims with us. For a little bit more information about potential valuations, please see the advice page here.

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