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Data breaches can come with a range of different security risks, some of which can make victims vulnerable to financial loss. When a data breach exposes customer billing information, this risk can be even more pronounced, as the details could give cybercriminals direct access to credit cards or bank accounts.
As such, it is highly important that companies store customer payment information securely, and only retain details where absolutely necessary, or where the customer has given express permission for the information to be recorded. If they fail in any of these duties, they could be at fault should an unauthorised third-party gain access to this information.
If you have had any payment information exposed in a data breach, you will probably know how stressful it can be to have the threat of financial crime looming over you. While it can be hard to trace the perpetrators of online theft and fraud, it can be less difficult to punish the data controller responsible for exposing your information. A data breach claim can give victims the opportunity to see that justice is done.
We are representing clients for a number of incidents that caused the exposure of billing information. Among these is the Ticketmaster data breach, which was found to have affected a lot of customers across Europe. A third-party chatbot used on Ticketmaster’s website had opened up a security vulnerability via which a cyber-attacker could access customers’ payment information.
The British Airways cyberattack provides another example of payment data exposure. Ordinarily, when a data breach exposes customer billing information, the details are partially redacted. However, in the British Airways data breach, credit card numbers, expiry dates and three-digit security codes (CVV) were all exposed.
You can join the BA Group Action for the data breach here now, as there is still time to claim.
The aftermath of billing information exposure can make victims vulnerable to different kinds of fraud and scams. In some cases, the information may not be enough to allow criminals to steal money directly from their victims’ bank accounts, so they may use it to make their scams look more authentic. For example, including a partial version of a victim’s card number in a phishing email may convince the victim that the scammer is a real, reputable company, making it easier to persuade victims into disclosing further personal data.
Identity fraud can also be made possible when a data breach exposes customer billing information. With card or bank account details, criminals may be able to make unauthorised transactions in victims’ names.
Beyond the financial losses that can be caused by data breaches, their emotional impact can also be severe for those affected. The constant worry or anxiety over potential theft can make for a highly unhealthy mental state for some data breach victims.
Regardless of the degree of distress or loss suffered, victims of data breaches may be able to make compensation claims. A claim can allow you to hold the data controller in question accountable for the incident, which is vital if they are to be dissuaded from acting in the same way again.
Contact our specialist team for free, no-obligation advice today if you think you may have a compensation claim to make.
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