Financial data breach group actions

You could be eligible to claim compensation for a financial data breach in a group or multi-party action, and we may be able to represent you for a case on a No Win, No Fee basis.

Please do not hesitate to contact our team for free, no-obligation legal help here now.

Claim compensation in a financial data breach group action

You could be able to claim compensation in a financial data breach group action if your personal information has been misused or exposed in an event of this nature.

An easy example of one of the most infamous financial data breach group action events was that of the Equifax cyberattack that took place in 2017. This affected millions of people across the world and hundreds of thousands of those were here in the UK.

A data breach that could affect financial information can be significant because it could allow hackers or criminals to misuse sensitive data to commit fraud and theft. In most cases, hackers are looking to make money from any breach of data, so we know how vulnerable people can be left when it is financial data that has been affected. However, there can be instances in which personal information is affected that could lead to financial information being compromised. Sometimes, hackers and scammers contact people and try to pass themselves off as legitimate representatives of an organisation.

We saw this following the TalkTalk cyberattack of 2015 in which criminals contacted victims and posed as representatives of TalkTalk. Unfortunately, in some cases, scammers were able to trick people into exposing access to bank accounts and some lost thousands of pounds.

What you could be eligible to claim damages for

In a financial data breach group action claim for compensation, you may be eligible to recover damages for any literal financial losses and expenses incurred. If money has been stolen from accounts, or costs that have been incurred as a result of some kind of fraud or theft situation, these are elements that could be recoverable.

However, in most data breach compensation claims, even if financial data is affected, most people will not lose any money. Thanks to the protections in place these days, it can be quite difficult for actual money to be permanently lost, so most people will just claim for the distress alone.

As things stand, the vast majority of people claiming privacy compensation are recovering damages for any distress that has been caused by the loss of control of their personal information. Do not worry if you have not lost any money or paid out any expenses, because you still may be able to claim for the distress that has been caused in accordance with the GDPR.

Free, no-obligation legal advice

If you have been involved in an incident that could form into a group or multi-party action, our leading team of lawyers would like to hear from you.

You can contact us here now for free, no-obligation advice today about your prospects of succeeding with a claim. If we believe that there is a potential case to succeed with, we may be able to represent you for a case on a No Win, No Fee basis.