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Financial services data breach advice

Financial services data breaches are becoming bigger and bigger problems, with some research indicating that most exposed information came from financial services data breaches last year.

According to a report from the data protection company Bitglass, compiled from data by the Identity Theft Resource Center (ITRC) and the Ponemon Institute, although the financial services industry contributed to 62% of data exposed last year, it only accounted for 6.5% of data breaches in total. This suggests that, whilst they only contribute to a small percentage of reported data breaches overall, an enormous amount of data is exposed in these breaches.

Your Lawyers (T/a The Data Leak Lawyers) is a leading firm of data breach compensation experts, and this research does not come as a surprise to us. We have pioneered data breach action since 2014 and we are passionate about fighting for justice for the victims of data breaches. We are here to help anyone that has suffered because of their sensitive information being misused or exposed in a data breach, and we offer free, no-obligation advice to victims.

Risks of financial services data breaches

According to the Bitglass report, data breaches in the financial services industry are costly, in second place behind the healthcare industry.

It is understood that an average financial services data breach could cost around £150 – £300 per record. This, perhaps, highlights the severity of financial services data breaches and the importance of having proper security systems in place to prevent such breaches occurring.

By having the correct software and systems in place, as well as up-to-date systems and regular employee training on data breach security, organisations can look to ensure they are doing as much as they can to prevent any data breaches taking place.

What can I claim for if my data has been breached?

If your data has been involved in a financial services data breach, you could be eligible to make a compensation claim with the Data Leak Lawyers.

Below is a list of factors that we consider when assessing your claim;

  • Damages for being a victim generally;
  • Any stress, worry, and anxiety caused;
  • Defamation proceedings;
  • Any recognised psychological injury or depression caused by the incident;
  • The effect that the leak has had on your social and domestic life;
  • Lost earnings from time off work or for lost earnings if you have to leave your employment;
  • Any other financial loss or expense that has been caused as a result of the incident;
  • Private treatment expenses if this can help.

 Read more about what you could claim for here.

Claim with the Data Leak Lawyers today

Speak to a member of our expert legal team today to discuss your potential claim. We offer everyone free and no-obligation advice and can usually tell you in minutes if we can take your claim forward.

We also offer No Win, No Fee representation to eligible data breach victims. Subject to our terms and conditions, we can write off our legal fees if the case does not succeed.

Fill in a contact request form here to get in touch to discuss your data breach claim.

The content of this post/page was considered accurate at the time of the original posting and/or at the time of any posted revision. The content of this page may, therefore, be out of date. The information contained within this page does not constitute legal advice. Any reliance you place on the information contained within this page is done so at your own risk.

We offer genuine No Win, No Fee agreements for our clients. Why we do this is simple:

Leading Data Breach Lawyers
Our experience speaks for itself.
We will fight for your right to compensation.
Access to Justice
As a victim of a data breach or hack, you deserve your chance to get access to justice.
Risks Assessment
We carefully risk assess your case and take it on if we think we have a good chance of winning the claim.

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Your privacy is extremely important to us. Information on how we handle your data is in our Privacy Policy
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