
Under GDPR Can an Individual be Held Responsible?
The GDPR is a set of strict rules that must be adhered to when processing the personal data of EU citizens. Failure to comply with
Get all your finance data breach questions answered below. Find out if you can claim and if so, how much you could claim.
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Customers, on average claim £4,000 from incidents of data breach
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Financial and banking information is some of the most important data you will have because if that is compromised you could face financial losses which causes a lot of emotional distress. As the systems have modernised over the years with things like online banking the financial sector has faced a significant increase in data breaches.
What is a finance data breach?
While we often worry about hackers or cybercriminals accessing our financial information, in many cases basic human error can also have a devastating impact and lead to data being compromised.
To protect us from financial data breaches and cybercrime it is essential that financial institutions or any company that has your banking details has adequate and robust systems in place to secure the data. Also, all staff working in financial organisations need to have the knowledge and capability to handle such sensitive information securely but all too often this isn’t happening.
Financial data breach claims can be made against:
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We use dedicated data breach solicitors who have handled thousands of data breach claims
Peter is a solicitor who has worked as a professional litigator for 3 years. More recently Peter has specialised in data breach compensation claims and over the last 2.5 years has gained a wealth of knowledge in this sector. Peter now works with us to share his knowledge and inform the general public.
GDPR regulations state that if you trust any party with your data and it gets lost, destroyed, or stolen you have the right to receive fair compensation. The financial sector handles some of our most sensitive and important data and all customers but their trust in them and expect it to be protected but this unfortunately is not always the case.
When a breach occurs, the ICO can respond with actions such as financial penalties and prosecutions.
Cybercriminals are becoming increasingly sophisticated with machine-learning helping to make existing cyber attack attempts like identity theft, denial-of-service attacks, and password cracking more formidable and more effective. The financial sector has always been a lucrative target for hackers and as we delve further into the Internet of Things (IoT) more and more devices are going to be connected to the internet which makes protecting data from hackers an ongoing challenge. However, this does not give financial organisations an excuse for carelessness.
If they have done everything in their power to protect your data and have the best security processes and procedures in place it is unlikely a claim would be successful. In the majority of cases though financial data breaches happen because of human error and/or failure to implement secure systems and these errors are just as likely to happen offline.
The best course of action if you think you have suffered a financial data breach is to seek specialised legal advice and services from trusted solicitors. If they have a proven track record of resolving these types of breaches then you can feel assured that you are in the right hands.
Through Data Breach Claims, we’ll put you in touch with solicitors who will provide you with a free consultation, and if you have a claim worth pursuing, will work for you on a no win, no fee basis. You won’t need to pay anything for their legal services until you receive your compensation. If your data loss incident has merit, then they’ll work for you to secure you the right outcome.
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The GDPR is a set of strict rules that must be adhered to when processing the personal data of EU citizens. Failure to comply with
You could be in line for data breach compensation worth thousands if your child’s data has been affected by a company’s data breach Parents know
If a company or organisation is storing your personal data and fails to keep it secure which has ultimately resulted in a breach, you have
Alternatively, give one of our solicitors a call free on 0330 828 1764
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© DataBreach Claims 2023. Data Breach Claims is a trading name of Evans Hughes Ltd company number 12573301. Authorised and regulated by the Financial Conduct Authority 927014. Evans Hughes Ltd is registered with the Information Commissioner’s Office under registration reference ZA754708. This website is operating in accordance to the privacy policy. ICO reg no. ZA473694. Data Breach Claims connects clients to regulated solicitors who deal with data breaches. We do not perform any legal services but simply connect you to a legal representative.