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Credit Card Data Breach Compensation Claims Guide – How Much Compensation Can I Claim? – Amounts For Credit Card Data Breach

How To Make A Data Breach Claim Against A Credit Card Company

Welcome to our credit card data breach compensation guide. After falling victim to a credit card company data breach, it’s common that you’ll suffer some form of damage as a result. When your personal information is compromised, it could fall into the wrong hands and cause you financial hardship as well as potentially experiencing mental distress and even financial shortfall.

Credit Card data breach claims guide

Credit Card data breach claims guide

However, did you know that if your credit card company’s failings were to blame for your data breach, you could be entitled to claim compensation?

This article will guide you through how to make a claim for a credit card company data breach and attempts to address any questions that you may have about the process, such as:

  • What data security laws apply to credit card companies to protect my personal information?
  • How could my personal information be compromised in a data breach?
  • What steps could be taken to address a data breach?
  • How could a credit card company be penalised for a data breach?
  • How much could I be compensated for a data breach?
  • How could a No Win No Fee solicitor help my case?
  • How could I find the best legal help for me?

Alternatively, why not save yourself the hassle and have one of our solicitors at Legal Expert handle your case for you instead? They have years of experience winning their clients the compensation that they deserve and have the knowledge needed to successfully navigate the claims process on your behalf.

What’s more, our solicitors always work on a No Win No Fee basis, so you can rest assured that you don’t have to pay them a penny if they’re unsuccessful in winning compensation.

To receive a free consultation with one of our advisors today, simply use one of the contact options below. Whether you’re looking for legal advice on your data breach claim or you’d like to begin legal proceedings with one of our solicitors, please get in touch.

Select A Section

  1. A Guide To Credit Card Data Protection Breach Compensation Claims
  2. What Is A Credit Card Breach Of Data Protection?
  3. GDPR Credit Card Compliance
  4. Credit Card Agency Security Breach Fines
  5. Credit Card Data Breach Reporting And ICO Enforcement
  6. How Could I Be Compensated For A Breach Of Financial Data?
  7. Calculating Credit Card Data Protection Breach Compensation
  8. How To Claim Compensation For A Breach Of Your Credit Card Data
  9. How A Solicitor Could Help If Your Credit Card Is Hacked Or Data Security Is Breached
  10. No Win No Fee Credit Card Data Protection Breach Compensation Claims
  11. Begin Your Credit Card Data Protection Breach Claim
  12. Data Breach Claim Information

A Guide To Credit Card Data Protection Breach Compensation Claims

After falling victim to a credit card company data breach, you may suffer some form of damage as a result. When your personal information is compromised, it could fall into the wrong hands and cause you to experience mental distress and even financial shortfall. This article will aim to guide you through the process of making a claim for a credit card company data breach.

To begin our guide, we’ll make sure that you’re familiar with some of the definitions that we’ll refer to throughout this article, including what the term data encompasses and what a credit card company data breach could look like.

We’ll also provide you with some of the important regulations from UK and EU laws that inform organisations of how they can and can’t use your data, which could give you an idea about whether or not a credit card company could be held liable for your data breach.

To help illustrate how a credit card company data breach could occur through no fault of your own, we’ll present some common examples, which range from a targeted cyber attack by a hacker to a mistake of human error. Furthermore, we’ll also include a real instance of a data breach that put victims’ credit card details at risk, explaining how the incident was addressed and how the company responsible was penalised for their non-compliance with data protection laws.

We’ll then outline some steps that could be taken in the wake of your data breach. Our advice includes contacting the company responsible for the incident directly to raise your concerns and reporting them to the Information Commissioner’s Office (ICO), an independent organisation that regulates data protection practices in the UK.

In addition, we’ll offer our expert tips on how to give yourself the best chance of securing the compensation that you deserve. These include outlining how a solicitor could help your case, how a No Win No Fee agreement can work for you and how to find legal help for your claim. To learn more, please continue reading this guide.

On the other hand, why not save yourself the hassle and have one of our solicitors at Legal Expert handle your case for you instead? Whether you’re looking for legal advice on your data breach claim or you’d like to begin legal proceedings, please get in touch today.

Data Breach Claim Limitation Periods

If you’re intending to make a credit card company data breach claim, it’s important that you first ensure that you’re familiar with the limitation periods that apply. If not, you could risk losing the compensation that you deserve by attempting to claim outside of the eligibility time limit.

  • Generally, claimants have only 6 years within which they could be entitled to make a data breach claim.
  • For data breach cases involving some sort of human rights breach, claimants have just 1 year within which they can claim before they’re no longer entitled to compensation.

Are you unsure whether you’re eligible to make a data breach claim? If so, please get in touch with one of our advisors today to receive a free assessment of your case.

Often, victims of a data breach aren’t aware that it’s occurred until they’re formally notified. Companies that suffer data breaches are legally required to inform anyone whose data may have been impacted within 72 hours of discovery.

However, in many cases, a data breach may not be discovered for some time after it happens. In addition, the full extent of the impact on victims isn’t apparent immediately and it could be years before the consequences of a credit card company data breach become clear, so a consultation with our advisors could help you get a better understanding of your circumstances.

What Is A Credit Card Breach Of Data Protection?

To begin our guide, we’ll make sure that you’re familiar with some of the definitions that we’ll refer to throughout this article, including what the term data describes and what a data breach could look like.

The term data can be used to describe any sort of personal information that can identify you either directly or indirectly. This could be your name, birth date, address and contact details.

In the context of a credit card company data breach, it’s common for financial details to be compromised, such as your bank account numbers and credit card details in particular. Information about your balance and transaction history could also be at risk.

An incident involving security known as a data breach involves your personal information being interacted with in a manner that you haven’t consented to. This could be accessing your data without authorisation, disclosing it to an unauthorised third party, leaking it for anyone to see and even destroying it without your knowledge. A data breach can be accidental or deliberate but having your personal information handled without your consent is always unlawful.

If you’ve suffered a data breach and you’d like to make a claim for the damage that you’ve experienced as a result, please read this guide or contact one of our expert advisors today to see how our solicitors could help.

GDPR Credit Card Compliance

As mentioned in the section above, having your personal information handled without your permission, also known as a data breach, is unlawful. In the UK, this rule is set out under the Data Protection Act 2018, which follows data protection standards outlined by the General Data Protection Regulation (GDPR) in EU law.

The GDPR aims to encourage proper protection of subjects’ data and holds organisations accountable for not handling personal information appropriately. Some principles established by this legislation include:

  • Consent by the subject must be actively given before their data can be interacted with
  • Data can only be retained as long as is absolutely necessary
  • How and why the subject’s data will be processed must be made transparent to them
  • Data must be regularly updated to ensure that it isn’t outdated and incorrect
  • Secure systems must be in place to store data safely

If you’re of the belief that you’ve suffered a credit card company data breach because of an organisation’s failings to comply with data privacy and protection laws, please continue reading to see how you could make a claim against them for compensation.

Alternatively, please don’t hesitate to get in touch with our team at Legal Expert today where one of our advisors can assess your situation free of charge.

Credit Card Agency Security Breach Fines

Below, we present you with a real instance of a data breach that put victims’ credit card details at risk and explains how the incident was followed-up.

Travelex suffered from an infamous data breach when hackers targeted their network to infiltrate databases of customers’ personal information. The hackers responsible identified themselves as a group called REvil, noted to be ‘quite a sophisticated group for a long time now’, weaponizing stolen data to be used as ‘bargaining chips’ for financial gain.

Once the hackers obtained access to this data, they set a ransom of over £4million or threatened to sell everything that they had stolen.

As well as personal information like customers’ dates of birth and national insurance numbers being vulnerable to exposure, the cyber attack also compromised credit card details, posing a significant risk for customers’ financial security.

In response to this monumental data breach, Travelex has shut-down their networks since December 2019. However, despite organisations being required to report such a data breach to the ICO (Information Commissioner’s Office) within 72 hours of the incident occurring, Travelex has reportedly yet to raise the issue of this data breach as of January 2020.

To learn more about the ICO and the power that they have to penalise organisations for failing to comply with GDPR regulations, please see the next section of this article.

Source: https://www.bbc.co.uk/news/business-51017852

How Credit Card Data Could Be Hacked, Stolen Or Breached

In this section, we’ll explore how a credit card company data breach could occur and present some common examples to help illustrate, which range from a targeted cyber attack by a hacker to a mistake of human error.

Credit card details are lucrative targets for hackers looking to make financial gains. They could steal money from your account, use your details to make purchases and transfers or even subject you to identity fraud. This can have damage to your credit rating, which can persist long after your data breach.

Human error can also result in data breaches. For example, a new credit card may be sent to the wrong address, meaning an unauthorised recipient has access to your details and account. Alternatively, poorly trained staff could improperly store your data, making it vulnerable to unauthorised parties and even accidental loss.

Whatever your situation, please get in touch with us at Legal Expert today to see how we could help you. Providing that an organisation’s failings were responsible for your data being compromised, you could be entitled to claim compensation for the damage that they’ve caused you to suffer.

Credit Card Data Breach Reporting And ICO Enforcement

If you suspect that an organisation’s failings were responsible for your credit card company data breach, you could be entitled to compensation. In this section, we’ll outline some steps that could be taken in the wake of your data breach.

You may wish to report your data breach to the Information Commissioner’s Office (ICO). This is an organisation that acts independently of the government that regulates data protection practices in the UK. If you file a report within 3 months of learning about your data breach, the ICO could investigate your circumstances and help establish liability.

If the ICO determines that the company in question is responsible for your data breach, they could issue them with a fine. These findings could support any future claim against the organisation, but please note that the ICO cannot provide you with compensation.

How Could I Be Compensated For A Breach Of Financial Data?

In this section, we’ll address the two different areas of damage that can be compensated after falling victim to a credit card company data breach—material and non-material damage.

  • Material damage could recover financial losses that you’ve suffered because of your breach of private data. It’s common to experience shortfall when your personal details are compromised, particularly if they include your bank or card details. As mentioned earlier, credit card details are lucrative targets for hackers looking to make financial gains. They could steal money from your account, use your details to make purchases and transfers or even subject you to identity fraud. This can have damage to your credit rating, which can persist long after your data breach.
  • Non-material damage aims to compensate for mental distress that your data breach caused. In many ways, a data breach can feel like a robbery, so it’s common to experience some subsequent trauma. In addition, financial issues caused by a credit card company data breach can cause lasting stress and even affect wider parts of your life, like work and relationships.

To learn how much compensation you could be entitled to for your data breach, please see the next section for payout estimates or get in touch with one of our advisors for a free assessment of your case today.

Calculating Credit Card Data Protection Breach Compensation

If you’re wondering how much compensation you could receive for a credit card company data breach claim, this section will explain how payouts are valued for non-material damage and give you some estimated brackets as an idea.

Since the Vidal-Hall and others v Google Inc case changed the data breach claims compensation system in 2015, compensation for non-material damage can now be sought, whether or not there was any material damage suffered.

Like personal injury claims, compensation for psychological harm can be valued with reference to the Judicial College Guidelines (JCG), with some examples seen in the table below:

SufferingSeverityCompensation BracketDetails
Psychiatric Damage
Less Severe£1,440 to £5,500
- Victim finds daily activities hard and experiences trouble sleeping
- Positive prognosis
Post-Traumatic Stress Disorder (PTSD)
Less Severe£3,710 to £7,680
- Victim predicted to make a full recovery in up to 2 years, with only minor symptoms of trauma persisting
Psychiatric Damage
Severe£51,460 to £108,620- Victim demonstrates problems with everyday life, like work, education and relationships.
- Poor prognosis for recovery
- Ongoing therapy may be required

As the table shows, compensation is awarded in accordance with the suffering experienced by the victim.

If you’re interested in learning how much compensation you could be entitled to as part of your credit card company data breach claim, please speak to one of our advisors today at Legal Expert to receive a free consultation on your case.

How To Claim Compensation For A Breach Of Your Credit Card Data

If you believe that an organisation’s failings were responsible for your credit card company data breach, you could be entitled to compensation. In this section, we’ll outline some steps that could be taken in the wake of your data leak.

Firstly, you could reach out to the company responsible for the incident to raise your concerns. We suggest that you detail the damage that they’ve caused you as a result of your data breach, from financial losses to mental anguish. Following this, you may wish to request compensation from them.

Whether they compensate you or not, any response that they do provide could be used against them. If they admit any wrongdoing or accept any blame for your data breach, this could support your claim by evidencing their liability.

If you encounter any difficulties in the wake of your data breach or you’d like some expert advice on how best to proceed, please don’t hesitate to get in touch to see how one of our solicitors could handle your case and help you successfully secure the compensation that you deserve.

How A Solicitor Could Help If Your Credit Card Is Hacked Or Data Security Is Breached

If you’re trying to find the best legal help for your credit card company data breach claim, don’t waste time asking around for recommendations or scouring online reviews to compare solicitors’ services.

Instead, why not contact our solicitors at Legal Expert today? We can connect with you regardless of where you are via email or telephone, so there’s no need to prioritise your solicitors’ locality in your search for legal help.

To learn more about our services, please continue reading or take a look at our reviews.

No Win No Fee Credit Card Data Protection Breach Compensation Claims

Our solicitors always offer No Win No Fee agreements to alleviate any sense of financial anxiety that clients may be experiencing in the wake of their data breach.

As part of these agreements, our clients don’t have to pay our solicitors a penny if they don’t win their case for them. If they manage to secure them the compensation that they deserve, then clients are expected to pay a ‘success fee’ to account for any legal costs, which is a small percentage of their payout that’s legally-capped to ensure transparency.

To learn more about how a No Win No Fee agreement could work for you, please see our No Win No Fee guide or speak to one of our team today.

Begin Your Credit Card Data Protection Breach Claim

Our solicitors have years of experience winning their clients the compensation that they deserve and have the knowledge needed to successfully navigate the claims process on your behalf. What’s more, they always work on a No Win No Fee basis, so you can rest assured that you don’t have to pay them a penny if they’re unsuccessful in winning compensation.

To receive a free consultation with one of our friendly and knowledgeable advisors, simply use one of the contact options below. Whether you’re looking for legal advice on your data breach claim or you’d like to begin legal proceedings with one of our solicitors, please don’t hesitate to get in touch today.

Data Breach Claim Information

To bring our credit card company data breach claim guide to a close, we’d like to thank you for reading. If you require any more legal advice, please don’t hesitate to speak to our team at Legal Expert for free support that you can rely on.

Finally, we’d like to end this article by offering you some additional resources that could help your knowledge on credit card company data breach claims and the like.

 

Guide by Mavers

Edited by Billing

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