A form of identity theft, account takeover fraud (ATO) happens when a criminal gains access to an individual’s account and steals from them.
The worry caused by takeover fraud can be significant. Some victims suffer emotional stress and distress, and existing mental health conditions can be exacerbated. So, even if you get your money back, the impact of takeover fraud can be devastating.
At Keller Lenkner UK, our data breach lawyers help people to make successful takeover fraud claims to compensate for their loss and distress. Where enough people come forward, we do this by launching a group action case.
START A NO-WIN, NO-FEE TAKEOVER FRAUD CLAIM WITH OUR EXPERIENCED CYBERCRIME LAWYERS.
As more and more people shop and bank online, takeover fraud is on the rise.
Typical takeover scams include:
If you have been the victim of takeover fraud, or attempted takeover fraud, you should contact Action Fraud ASAP. If you have lost money as a result of the scam, you must also report it as a crime.
Many takeover scams are highly targeted and come after a person’s data has been stolen in a data breach.
Get your money back following a takeover scam
*Your bank (or another financial provider) can only refuse to reimburse stolen funds where you have shown a very significant degree of carelessness.
Takeover fraud often happens following a data breach. Criminals use the data exposed in breaches (often usernames and passwords) to access a person’s online accounts. This is possible as people often use the same login details for multiple accounts.
Stolen data is easy to buy on the dark web, so if you are the victim of a data privacy violation, it is quite likely that different criminals could be trying to use your data against you.
IF YOU ARE THE VICTIM OF A TAKEOVER SCAM BECAUSE OF POOR DATA PROTECTION PROCESSES, WE CAN HELP YOU TO CLAIM COMPENSATION FROM THE ORGANISATION RESPONSIBLE.
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.
In many cases, data hacks and cyber-attacks happen because of a failure to implement reasonable and robust processes. Often because of the cost needed to do this.
But, by not putting adequate processes and training in place, organisations are leaving customers open to an increased risk of cyber scams and avoidable mistakes that lead to data breaches.
See our answers to the FAQs we get asked about takeover fraud.
Cyber-attacks and data breaches are likely to become more frequent, as businesses have underestimated the impact the pandemic has had on their vulnerability. That’s according to a recent report.
Cyber incidents as a result of ransomware are rising at an alarming rate according to figures published by the Information Commissioner’s Office (ICO). The number
Kingsley Hayes, Head of Data Breach, discusses the increasing frequency and severity of ransomware attacks, in Fraud Intelligence. Kingsley’s article was published in Fraud Intelligence, 21 July 2021.
Keller Lenkner UK has been shortlisted at The British Legal Awards 2021 in the ‘Independent Law Firm of the Year’ and ‘Strategic Legal Operations Team of the Year’ categories. We have also been shortlisted for the ‘Disputes Boutique Firm of the Year’ award at this year’s The Lawyer Awards.
