What does the Equifax fine mean for the many people we’re representing for compensation claims for last year’s massive data breach?
We launched our Equifax compensation action last year, and we’re still taking new cases on now. The news of the Equifax fine has prompted more people to come forward and join our action, but what does the fine mean for the action on the whole?
The fine and our legal action are separate, but outcomes of regulatory investigations can help legal claims as well.
The Equifax fine was a clear statement
The Equifax fine was the maximum that the company could have received in accordance with the previous Data Protection Act 1998 rules. They were hit with a £500,000.00 fine by the Information Commissioner’s Office (ICO).
The Equifax data breach took place before the new GDPR came into force in May. This is why they’ve not been hit with a £500m fine like British Airways may receive.
The fine itself was a huge statement. Equifax were penalised for breaching a number of principles of the legislation. This served as a clear warning that maximum fines will be issued for preventable and serious breaches. The difference now is that the fines can be way bigger!
Impact of the Equifax fine on the compensation action
The impact of the Equifax fine on the compensation action we’re pursuing is positive. Although the two are separate actions, the fine is recognition that this was a serious and preventable breach.
The reason we launched our Equifax compensation action last year is because we are confident we can win the legal case. The maximum fine issued means our confidence was well-placed.
No Win, No Fee Equifax compensation
The Equifax fine aside, we’re representing people claiming for Equifax compensation on a No Win, No Fee basis.
We’re doing this because we’re confident that we can win the action.,
You can find out more about the Equifax compensation action and sign-up for compensation here.