{"id":3719,"date":"2019-04-23T10:33:23","date_gmt":"2019-04-23T09:33:23","guid":{"rendered":"https:\/\/www.dataleaklawyers.co.uk\/blog\/?p=3719"},"modified":"2019-04-23T10:35:12","modified_gmt":"2019-04-23T09:35:12","slug":"rising-financial-services-data-breach","status":"publish","type":"post","link":"https:\/\/www.dataleaklawyers.co.uk\/blog\/rising-financial-services-data-breach","title":{"rendered":"Rising financial services data breach incidents"},"content":{"rendered":"

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

In 2018, it\u2019s understood that the number of data breaches that had been reported to the FCA had increased by a monumental 480%.<\/p>\n

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<\/strong><\/a>. Financial services data breach compensation amounts<\/strong><\/a> can be high, depending on the nature and severity of the incident.<\/p>\n

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Worries over rising financial services data breach incidents
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We should be worried over rising financial services data breach. For obvious reasons, it\u2019s a good sector to target for criminals. There\u2019s the chance of being able to steal real money instead of information to then attempt to commit fraud, or sell the data on.<\/p>\n

We saw from last year\u2019s Tesco data breach<\/strong><\/a> that it\u2019s 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\u2019s still the stress of having your data exposed, which is something you can make a claim for as well.<\/p>\n

Can you claim compensation for a financial services data breach?<\/strong><\/h3>\n

You may be entitled to make a claim for compensation<\/strong><\/a> if you\u2019re 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.<\/p>\n

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:<\/p>\n