Reading:
Rising financial services data breach incidents
Share:
check online banking accounts

Rising financial services data breach incidents

Sign-up to a data breach claim today - use our quick and easy form to begin your claim for thousands of pounds in compensation.

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

solicitors regulation authority

There are rising financial services data breach incidents, according to the number of reports that have been made to the Financial Conduct Authority (FCA).

In 2018, it’s understood that the number of data breaches that had been reported to the FCA had increased by a monumental 480%.

With May 2018 seeing the introduction of the new GDPR rules, punishments that can be issued for data incidents can amount to millions. On top of that, victims can be entitled to make a claim for compensation. Financial services data breach compensation amounts can be high, depending on the nature and severity of the incident.

Worries over rising financial services data breach incidents

We should be worried over rising financial services data breach. For obvious reasons, it’s a good sector to target for criminals. There’s the chance of being able to steal real money instead of information to then attempt to commit fraud, or sell the data on.

We saw from last year’s Tesco data breach that it’s possible for money to be easily stolen from real accounts as part of a cyber attack. Although money can be repaid by the banks, there’s still the stress of having your data exposed, which is something you can make a claim for as well.

Can you claim compensation for a financial services data breach?

You may be entitled to make a claim for compensation if you’re the victim of an incident. With rising financial services data breach incident occurring, the likelihood of falling victim to a breach may be worryingly high.

When you make a claim, there are various things that we look at when it comes to determining data breach compensation payout. Claims are normally formed from two parts:

  • General Damages; and
  • Special Damages.

General Damages is for any suffering and distress caused by a data breach. Special Damages can cover any financial losses and expenses.

Importantly, you do not have to have lost money in order to make a claim for data breach compensation. The distress alone of having your personal information exposed, and the loss of control over that information, can be severe. We take this into account when we value a data breach claim, and the amounts you can claim can be quite high.

Although each case is valued on its own merits, our figures from last month indicated an average settlement of £7,000.00 for victims claiming compensation for a data breach with us.

You can read more about data breach compensation amounts on our advice page here.

Making a claim

If you need to know more about masking a data breach claim, you can contact our team for a free, no-obligation assessment.

We offer No Win, No Fee representation for cases we can take forward as well.

Start Your Claim

You can call our claims team free from a landline or mobile on 0800 634 7575 or click on the link below to create a call back with one of our expert Data Claims team.Information on how we handle your data is available in our Privacy Policy.

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.

Request A Callback From Our Team

Fill out our quick call back form below and we'll contact you when you're ready to talk to us.

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

solicitors regulation authority

SRA
Contact
www.dataleaklawyers.co.uk is © of Your Lawyers Limited - we are 'Authorised and Regulated by the Solicitors Regulation Authority (SRA number 508768)'
arrow-up icon