Equifax
In 2017, poor security processes at Equifax led to a huge data breach. The ICO has since fined Equifax £500,000 and people who have been affected by the breach can register to make a compensation claim.
Cybercriminals are becoming more and more sophisticated. But, if an organisation does everything possible to protect your data, and has robust security processes and procedures in place, it is unlikely that an attack would be successful.
Nevertheless, the financial sector is witnessing a significant increase in data breaches – with cybercriminals and poor data management both responsible.
Something has to be done to persuaded financial organisations to take their data privacy responsibilities seriously and make the necessary improvements. Because, until then, financial data breaches will continue to rise.
IF YOU HAVE BEEN A VICTIM OF A FINANCIAL DATA BREACH, WE CAN HELP YOU MAKE A NO-WIN, NO-FEE CLAIM FOR COMPENSATION.
In 2017, poor security processes at Equifax led to a huge data breach. The ICO has since fined Equifax £500,000 and people who have been affected by the breach can register to make a compensation claim.
In August 2019, over 750 annual benefit statements were sent to the wrong postal addresses. These statements were for police officers of Sussex Police.
Equiniti, a company that provides support, communications and technology platforms to help manage company pensions, was responsible for distributing these statements.
Fintech startup LOQBOX – a company that helps people to improve their credit ratings – suffered a cyber-attack in February 2020. As well as personal data, some financial information was also breached.
The ICO has investigated the following finance & insurance data breaches. If the ICO finds an organisation guilty of data protection offences, it can issue financial penalties and prosecutions.
See our answers to the FAQs we get asked about finance & insurance data breaches.
DivideBuy, an interest free credit provider that offers an accessible form of finance to business and individuals, is the latest fintech company facing legal action after the business failed to protect its customer data.
Indian stock trading firm Upstox has suffered a serious security breach. Reports claim that millions of customers – including those in the UK – could have had their personal information compromised after hacking group ShinyHunters targeted the business.
Keller Lenkner UK has launched a group action against LOQBOX. Group actions can be a powerful tool and can have a bigger impact than a single claim.
If you have experienced scams and phishing attempts since the breach, and you suspect that the criminals are using your Equifax data, it is worth checking to find out. All you have to do is to ask Equifax if you were involved. Keller Lenkner can make a data request to find this out for you.
The only way to get Equifax data breach compensation is to make a claim. And, with this case now underway, you should find out if you can claim to ensure you do not miss out on any compensation owed.
The fact that the Equifax data breach happened under old data protection laws has proved to be fortuitous for the company. Not least because Equifax did not have to adhere to newer more stringent consumer rights guidelines.
While each case is judged on its own merits, there are some things we would typically look for when it comes to when claiming compensation following a data breach, cybercrime or other GDPR violation:
With stolen data, cybercriminals can make purchases using your bank and credit cards, apply for credit in your name, set up fraudulent bank accounts and access your existing online accounts.
GDPR failures, cybercrime and data breaches can have a significant impact on you, both mentally and physically. They can cause or exacerbate anxiety, stress and other psychological conditions.