Fraud from data breaches- are we losing the fight against cybercrime?

In the UK last year, the coronavirus pandemic caused us to lead more and more of both our personal and professional lives online. As such, the risk of fraud from data breaches has heightened.

In 2020, The Daily Express reported that one in five people (equating to around 11 million) had their data hacked, and one in three reported that they are unequipped to protect their online data. This is a shocking number of victims which, in our view, is indicative of a national crisis in cybercrime. It undoubtedly reveals that large-scale action needs to be taken.

Indeed, the shocking nature of such statistics is part of the problem, as experts (ourselves included) cite low awareness as a key reason why the number of victims has been allowed to reach this horrifying height. The vice-president of Clario, the body which compiled the research in association with thinktank Demos, highlighted that victims seem to “think they should suffer in silence”.

Types of fraud from data breaches

The report revealed several different forms of cyber fraud, citing email scams as one of the most common types, but also highlighting credit or debit card fraud and identity theft as highly frequent effects of having your personal data stolen.

Fraudsters are increasingly developing more advanced methods of luring in unsuspecting victims and are learning how to present a trustworthy front to unsuspecting online consumers. They can also use information from data breaches to pass themselves off as real companies, convincing people based on the exposed information they have.

Exacerbated by the coronavirus pandemic?

With screen time increasing dramatically during the UK lockdown periods, online payments have been normalised as a typical way of purchasing products, subscriptions or services.

It is said that cybercriminals are trying to exploit this development: as customers become more invested in the variety of products that online companies can offer, they are also perhaps becoming less vigilant and less sensitive to the signs of potentially dangerous online activity. Those who are not as accustomed to using the internet, such as elderly people, can be particularly vulnerable to such scams.

The effects of fraud from data breaches

At The Data Leak Lawyers, we are all too familiar with the psychological and emotional impacts of fraud from data breaches which are cited in this report.

The consequences can range from worry, to anxiety, and to mistrust, all of which can cause extreme psychological distress to the affected victim and can have a long-term impact on their lives.

There is also another unsettling response to cyber fraud referenced in this report, which is a lack of surprise. It seems that people have so little faith in the safety of their online data nowadays that they are almost expecting data breaches to happen. It should not be the case that cybersecurity dangers are simply accepted side-effects of using the internet.

We strongly believe that everyone should be equipped to counter the dangers of data breaches, which is why refuse to let them go unnoticed. As experts in data breaches with years of experience in leading data breach claims, The Data Leak Lawyers are here to offer free, no-obligation advice to anyone who has suffered as a result of a data breach. If you should wish to instruct us, we can proudly offer to pursue your case on a No Win, No Fee basis if we think you are eligible for a compensation claim.

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