Atom Bank Data Breach – Can I Claim Compensation?

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Atom Bank Data Breach – Can I Claim Compensation?

This guide will explore the steps you could take should an Atom bank data breach occur. As a data controller, banks have a responsibility to protect your personal data. A data controller sets the purpose for processing and can process the data themselves. Whereas a data processor acts on behalf of the data controller. We will explore the responsibilities they have to adhere to data protection law further throughout this guide.

data breach claims against atom bank

Atom bank data breach – could I claim compensation?

Additionally, we will explore the steps you could take should a bank data breach occur and compromise your personal information. We will also look at the types of data breaches that could occur in a bank.

Furthermore, this guide will explain what compensation you could receive if you’re eligible to claim and your claim succeeds. 

You can speak to our advisers directly for information by:

  • Calling on 0800 073 8804 
  • Filling out the contact form with your query
  • Using the live chat feature below

Select A Section 

  1. What Could An Atom Bank Data Breach Be?
  2. Does The UK GDPR Apply To The Financial Sector 
  3. How A Banking Data Breach Could Happen 
  4. Time Limits To Make A Data Breach Claim
  5. Calculating Settlements In Data Breach Claims
  6. Talk To Us Should An Atom Bank Data Breach Occur

What Could An Atom Bank Data Breach Be?

A personal data breach is a security incident affecting the confidentiality, integrity and availability of your personal data. Personal information is any information that can be used to identify you, such as:

  • Name
  • Postal address
  • Email address
  • Phone number
  • Personal information relating to your finances

Additionally, certain personal data requires extra protection due to it’s sensitive nature. This is known as special category data and can include biometric data as well as data relating to a person’s trade union membership or sexual orientation.

Data controllers and data processors have a responsibility under data protection law to protect this information. If they fail to do so, it could lead to your personal information being compromised. This could lead to you experiencing financial loss or psychological harm.

There are various steps you could take should an Atom bank data breach occur. To learn more get in touch on the number above.

Does The UK GDPR Apply To The Financial Sector?  

The UK General Data Protection Regulation (UK GDPR) and the Data Protection Act 2018 set out the responsibility data controllers and data processors have to protect your personal data. 

Furthermore, under the UK GDPR, you have certain rights. For example, as per Article 82, you have the right to seek compensation for the damages you have sustained as a result of a personal data breach.

Organisations within the financial sector must adhere to data protection law. For instance, they must have a lawful basis for processing your personal data. They also must adhere to the seven principles outlined in the UK GDPR.

Additionally, organisations within the financial sector, such as banks, must take extra precautions when processing special category data. As such, they must have a lawful basis as well as a separate condition for processing.

If they fail to do so, it could see your personal data becoming compromised leading to you suffering emotional harm or financial loss. In some instances, you may be able to seek compensation. Call us to learn more.

How A Banking Data Breach Could Happen 

A banking data breach could happen for various reasons, including cyber security incidents and human error. Below, we have provided examples of how a data breach could occur in a bank:

Cyber Attack: As data controllers, it is the bank’s responsibility to ensure they are taking all reasonable, necessary and practical steps to secure your information. This can include ensuring cyber security measures are up to date. If they fail to do so, it could lead to them becoming more susceptible to a cyber attack, such as a ransomware attack.

Improper disposal of personal information: Company paperwork being disposed of as every day rubbish can leave personal or sensitive information vulnerable to exposure. It is a bank’s responsibility to properly shred or dispose of any material containing personal information. A failure to do so could lead to stolen paperwork causing you to experience financial loss due to your sort code and account number being breached.

Lost Devices: Banks have a responsibility to ensure they put in physical security measures to protect data that they physically store. If they fail to do so, this can lead to instances of devices containing personal information being lost or stolen

To learn about the steps you could take should an Atom bank data breach occur, please get in touch on the number above.

Financial Data Breach Statistics 

The Information Commissioner’s Office (ICO) is responsible for upholding the rights and freedoms of data subjects. They collate reports and track data security incident trends.

As per the trends, there were a total of 255 cyber security and non-cyber security incidents in the finance, insurance and credit sector during Quarter 4 of the Financial Year 2020/21.

Time Limits To Make A Data Breach Claim

The general time limit to start a data breach claim is six years. This is reduced to 1 year when claiming against a public body.

Organisations must also ensure they report a data breach that affects the rights and freedoms of a data subject to the ICO within 72 hours. They must also notify you if your rights and freedoms have been affected by a data breach without undue delay.

If you suspect that a data breach has occurred, you can contact the organisation directly. If they don’t respond or don’t provide an adequate response, you can make a complaint to the ICO.

Please note, the ICO cannot award compensation, but they may investigate the incident. If they do, their findings can be used as evidence if you’re eligible to make a personal data breach claim.

For more information on the steps you could take should an Atom bank data breach occur, get in touch on the number above.

Calculating Settlements In Data Breach Claims

You could receive compensation for any material damage and non-material damage following a data breach claim that succeeds. You can claim compensation for material or non-material damage independently of the one another.

Material damage accounts for the financial losses incurred as a result of the breach. For example, if you have had your credit card information stolen, their may be loans taken out in your name leading to an ongoing impact on your credit score. You could claim back this cost under the material damage head of claim.

Non-material damage accounts for the emotional harm you have sustained due to the breach. For example, you may have experienced anxiety, stress or post-traumatic stress disorder in more severe cases due to having your personal data compromised.

As an alternative to a data breach compensation calculator, we have provided figures outlined in guidelines from the Judicial College. This is a document solicitors and other legal professionals can use to help them when valuing the non-material damage head of claim.

Edit
Type of Harm Other Notes Guideline Compensation Bracket
Severe Mental Harm (a) The person has a very poor prognosis. £54,830 to £115,730
Moderately Severe Mental Harm (b) The person’s prognosis is more optimistic than in more severe cases. £19,070 to £54,830
Moderate Mental Harm (c) The person will have made a significant improvement and their prognosis is good. £5,860 to £19,070
Less Severe Mental Harm (d) The amount awarded will depend on how badly the person’s daily activities and sleep were impacted. £1,540 to £5,860
Severe Reactive Mental Disorder (a) The person will be unable to function at the same level as before the trauma. £59,860 to £100,670
Moderately Severe Reactive Mental Disorder (b) The person will have a better prognosis and will have made some recovery due to receiving professional help. £23,150 to £59,860
Moderate Reactive Mental Disorder (c) The person will still experience ongoing issues but they aren’t majorly disabling. For the most part, they will have made a significant recovery. £8,180 to £23,150
Less Severe Reactive Mental Disorder (d) The person will have mostly made a full recovery within a couple of years. £3,950 to £8,180

For more information on the compensation you could receive following a successful claim, get in touch on the number above.

Talk To Us Should An Atom Bank Data Breach Occur

One of our data breach solicitors could offer their services on a No Win No Fee basis. They might offer you a Conditional Fee Agreement (CFA). Under a CFA, there are no upfront or ongoing fees for their services. You also don’t need to pay for the services your solicitor provides if your claim fails.

If your claim is successful, a payment from your compensation will be required in the form of a success fee. This fee has a legal cap in place. 

To see if you are eligible to have one of our No Win No Fee solicitors represent your claim on this basis, please reach out to one of our advisers now. They could also provide further guidance on the steps you could take should an Atom bank data breach occur. You can contact them by:

  • Calling on 0800 073 8804 
  • Filling out the contact form with your query
  • Using the live chat feature below

Further Resources On Making A Data Breach Claim

Below, we have provided additional resources that you may find beneficial:

We have also provided some of our other guides:

Thank you for reading this guide exploring the steps you could take should an Atom bank data breach occur. If you need any other information, get in touch on the number above.

Written by Charles

Edited by Mitchell

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    • Patrick Mallon

      Patrick is a Grade A solicitor having qualified in 2005. He's an an expert in accident at work and public liability claims and is currently our head of the EL/PL department. Get in touch today for free to see how we can help you.

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