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HSBC Bank Data Breach Compensation Claims Guide – How Much Compensation Can I Claim? – Amounts For HSBC Bank Data Breach

HSBC Breached My Data Privacy, Could I Claim Compensation?

If you can prove that you’ve fallen victim to an HSBC data breach due to the company’s own failings, you could be entitled to compensation for any financial or psychological damage that they may have caused you.

In this article, we’ll provide you with a detailed guide on how you could be able to make a successful claim in attempts to account for any mental suffering or financial losses that you’ve experienced as a result of your personal information being compromised. 

HSBC data breach claims guideTo help you understand what your rights are in the case of a data breach and what steps you could take in the wake of one, we aim to address some queries and concerns that you may have, such as:

  • What do the terms data and data breach technically mean?
  • What data protection laws are in place to help ensure the privacy of my personal information?
  • How could the Information Commissioner’s Office (ICO) help my case?
  • What types of damage caused by my data breach could be compensated?
  • How much compensation could I be entitled to from my data breach claim?
  • How could I source the best legal help for my case?
  • What steps could I take to give my claim the best chance of success?
  • How could I benefit from entering into a No Win No Fee agreement?

At Legal Expert, our specialist advisors are on hand 24/7 to discuss all of this and more. By getting in touch today, you could receive a free consultation on your potential data breach case, letting you know whether you could have a viable claim and how much compensation you could be entitled to. 

What’s more, if you choose to proceed, you could be connected with one of our solicitors who will get to work right away. In utilising their years of experience, our solicitors could give your claim the best chances of success and win you the compensation that you deserve. 

After suffering a data breach, many victims can feel deterred from making a claim, meaning that they lose out on their compensation even when they know that someone else was at fault for it. Whether you’re concerned about paying legal fees or you’re worried about the financial risk that making a claim carries, our solicitors at Legal Expert handle claims on a No Win No Fee basis to ease any anxieties that you may have. Therefore, if they fail to win your case for you, you won’t be expected to pay them a penny. 

So, whether you’re interested in learning more about our services or you’d like a free consultation on your data breach, please don’t hesitate to get in touch today using one of the following methods:

Select A Section

  1. A Guide To Data Breach Claims Against HSBC Bank
  2. What Is A Claim Against HSBC Bank?
  3. Information On Implementing The GDPR At A Bank
  4. Examples Of Data Breaches By HSBC And Other Banks
  5. How Could The ICO Help You With Your Case Or Complaint?
  6. What Compensation And Damages Could Data Breach Victims Claim?
  7. How Much Compensation Could Be Awarded To A Data Breach Victim?
  8. How You Could Claim Compensation From A Bank
  9. No Win No Fee Data Breach Claims Against HSBC
  10. How Do I Find A Specialist Data Breach Solicitor?
  11. Speaking To A Specialist Solicitor
  12. Further Resources

A Guide To Data Breach Claims Against HSBC Bank

In this article, we’ll provide you with our expert guide on how you could prove a claim for an HSBC data breach in attempts to account for any mental suffering or financial losses that you’ve experienced as a result of your personal information being compromised. 

To help you understand what your rights are in the case of a data breach and what steps you could take in the wake of one, we’ll begin by making sure that you’re familiar with the technical definitions of data and data breach. In addition, we’ll outline some key principles established by data protection laws that regulate how organisations are permitted to interact with your data. 

Next, we’ll explain how a data breach could happen in a banking context, providing some examples including a case study of a similar nature. We’ll explore some of the potential consequences that victims could encounter, as well as how much compensation they could be entitled to claim for the suffering that they’ve been caused. 

We’ll then go through some steps that you may wish to take in the wake of your data breach. These include raising your concerns with the organisation responsible for your personal information being compromised and reporting the incident to the Information Commissioner’s Office (ICO), an organisation that has the power to penalise companies demonstrating non-compliance with data protection laws in the UK. 

Lastly, we’ll offer you some advice on how we could help secure the compensation that you deserve. Our top tips aim to inform you about how you could source the best legal representation for your case and why you could benefit from entering into a No Win No Fee agreement.

As mentioned above, our specialist advisors are on hand 24/7 to discuss all of this and more. By getting in touch today, you could receive a free consultation on your data breach, letting you know whether you could have a viable case and how much compensation you could be entitled to. So, why not see how we could help you today?

Limitation Periods for Data Breach Claims

Did you know that there are limitation periods that apply to data breach claims? If you wait too long before you issue legal proceedings, you risk losing the compensation that you deserve if the relevant time limit for your claim has expired.

The usual time limits for data breach claims are as follows:

  • Generally, you have a maximum of 6 years in which you’re entitled to claim for a data breach
  • If a human rights breach is part of your case, then you only have a maximum of 1 year in which you’re entitled to claim for a data breach

You’re legally required to be notified if your personal information has been compromised as part of a data breach by the organisation responsible for your data within 72 hours.

However, data breaches can go unnoticed for varying periods of time, meaning it could be a while after the incident actually occurred before you’re made aware of it. In addition, it can often take time before the extent of a data breach’s consequences is truly understood. 

Are you unsure whether you’re still within the relevant time limit in order to claim? By getting in touch with our team at Legal Expert today, one of our specialist advisors can tell you whether you could be entitled to make a valid claim via a free consultation. In addition, our solicitors could take-on your case on a No Win No Fee basis to help win you the compensation that you deserve.

What Is A Claim Against HSBC Bank?

To help you understand what your rights are in the case of a data breach and what steps you could take in the wake of one, we’ll begin by making sure that you’re familiar with the technical definitions of data and data breach.

The term data is used in this article to describe any type of personal information that can be used to identify its subject, such as:

  • Names
  • Addresses
  • Contact details

In terms of an HSBC data breach, this could also include your bank or card details. If any of this information is compromised, then we would refer to this as a data breach.

A data breach is a term used to describe a security incident in which data is accessed, leaked, changed or destroyed without your authorization. It can be by accident or on purpose but is always unlawful if you haven’t consented to your data being handled in such a way. 

To learn more about the key principles established by data protection laws that regulate how organisations are permitted to interact with your data, please see the section below or speak to one of our advisors today.

Information On Implementing The GDPR At A Bank

As mentioned in the section above, a data breach can happen by accident or on purpose but is always unlawful if you haven’t consented to your data being handled in such a manner. In this section, we’ll outline some of the key principles established by data protection laws that attempt to regulate how organisations are permitted to interact with your data.

The UK’s Data Protection Act 2018 takes its key principles from the EU’s General Data Protection Regulation (GDPR), including:

  • The data subject must consent to why and how their data is interacted with
  • Data can only be kept for as long as absolutely necessary
  • Organisations must ensure a secure system of data protection is active before they engage in data collection
  • Any data collected must be updated regularly while it’s kept

Whatever the circumstances of your HSBC data breach, if it was due to the company’s own failings and you can prove this was the case, you could be entitled to compensation for any damage that they’ve caused you. To learn how you could get the compensation that you’re entitled to, please continue reading or speak to one of our advisors today.

Examples Of Data Breaches By HSBC And Other Banks

In this section, we’ll explain how an HSBC data breach could happen, providing some examples including a case study of a similar nature in the same context.

According to Corin Imai, one of DomainTools’ senior security advisors, financial companies possess some of the “most valuable data to steal”. However, as an industry, he believes that the financial sector has far to go in its handling and protection of data.

In October 2018, HSBC discovered that their databases had been infiltrated by hackers for a period spanning around 10 days. Over the course of this cyberattack, the hackers managed to gain unauthorised access to customers’ personal information, including:

  • Names
  • Dates of birth
  • Contact details, such as home addresses and email addresses
  • Banking details, such as account numbers, balances and transaction history

Once HSBC became aware that their systems had been compromised, they alerted all customers that they suspected to be impacted by the breach and suspended their accounts to attempt to prevent any further security incidents. In addition, those affected were each offered a year of free credit monitoring and identity fraud prevention services.

It’s thought that the hackers were able to access HSBC’s databases through ‘stuffing’. This technique typically uses previously leaked information, such as passwords, in order to gain access to users’ accounts on other platforms. Those who commonly fall victim to these types of data breaches tend to have a habit of using the same password over various platforms.

In attempts to amend the flaws in their data protection systems, HSBC responded to the data breach by implementing an extra layer of security to their customers’ accounts. 

Sources:

  • www.bbc.co.uk/news/technology-46117963
  • www.teiss.co.uk/hsbc-data-breach-customers-affected

How A Bank May Be In Breach Of Customers Data Privacy

As demonstrated in the case study above, data breaches can be the result of cyberattackers infiltrating companies’ systems in order to access their databases without authorisation. They may then use the information that they find or even sell it, both of which could result in identity theft for victims and create persisting issues for them financially.

Alternatively, data breaches can be the result of human error, with some common causes including:

  • Data missent to unauthorised recipients
  • Data left in view of unauthorised parties
  • Data improperly stored, leaving it vulnerable to unauthorised access or accidental loss

Whatever the circumstances of your HSBC data breach, if it was due to the company’s own failings, you could be entitled to compensation for any damage that they’ve caused you. To learn what steps you could take in the wake of one, please continue reading or speak to one of our advisors today.

How Could The ICO Help You With Your Case Or Complaint?

In reporting the incident to the Information Commissioner’s Office (ICO), an organisation that has the power to penalise organisations demonstrating non-compliance with data protection laws in the UK, you could help evidence your claim against HSBC if they’re found to be liable.

However, please note the following:

  • The ICO does not award compensation to data breach victims regardless of their findings, as their purpose is merely regulatory.
  • Even if an organisation is found liable for your data breach, the ICO’s findings do not guarantee a successful claim against them.
  • If you want to report your data breach to the ICO, you must do so within 3 months of your last correspondence with the responsible party—if you made a complaint to them about the breach.

What Compensation And Damages Could Data Breach Victims Claim? 

In this section, we’ll explore the types of damage that victims can claim for as a result of their HSBC data breach:

  • Material damage aims to recover any financial shortfall caused by a data breach, which is particularly common in situations where bank or card details are compromised. As this can create lasting problems in terms of finances and credit, the potential for future damage is also considered in valuing compensation. 
  • Non-material damage aims to account for any mental or emotional suffering caused by a data breach. Since a data breach can feel like a robbery, the same trauma often results, which has the potential to affect wider areas of life like relationships and ability to work.

How Much Compensation Could Be Awarded To A Data Breach Victim?

This section will outline the way in which compensation for non-material damage is valued to give you an idea about how much compensation you could be entitled to for an HSBC data breach claim.

With the Court of Appeal case of Vidal-Hall and others v Google Inc in 2015 allowing non-material damage to be compensated as part of data breach claims, regardless of material damage, compensation can now be valued in accordance with the system of personal injury claims.

Using figures from the Judicial College Guidelines (JCG) as a framework, compensation is valued depending on the extent of the claimant’s suffering. Please see the table below for some examples:

SufferingSeverityCompensation BracketDetails
Psychiatric Damage
Less severeUp to £5,500
Trouble completing daily activities as normal but a good prognosis
Post-Traumatic Stress Disorder (PTSD)
Moderate£7,680 to £21,730
Lasting impacts of trauma but a good prognosis
Post-Traumatic Stress Disorder (PTSD)
Less severeUp to £7,680
Minor lasting impacts of trauma with a full recovery predicted within 2 years

To see how you could access this compensation, please see the section below or speak to one of our advisors today for a more detailed valuation of your potential case.

How You Could Claim Compensation From A Bank

As mentioned earlier, you may wish to report your HSBC data breach to the ICO to help evidence your claim by establishing liability.  

However, you could also contact HSBC directly to raise your concerns with them. In your communication, we advise that you detail how the data breach has impacted your life and emphasise that you expect compensation for your suffering. 

Regardless of whether any compensation is received in return, any response that they send could be used to support your claim against them. If they make any admission of wrongdoing that contributed to your data breach, then this could help establish liability and help evidence your case. Therefore, this could be a crucial step to gaining the compensation that you deserve.

No Win No Fee Data Breach Claims Against HSBC

After suffering a data breach, many victims can feel deterred from making a claim, meaning that they lose out on their compensation even when they know that someone else was at fault for it. 

Whether you’re concerned about paying for legal support or you’re worried about the financial risk that making a claim carries, our solicitors at Legal Expert handle claims on a No Win No Fee basis to ease any anxieties that you may have. Therefore, if they fail to win your case for you, you won’t be expected to pay them a penny. 

In addition, a No Win No Fee agreement contains no upfront payments or hidden fees for you to worry about. You’ll only be expected to pay what’s referred to as a ‘success fee’ to cover your solicitor’s legal costs if they win your case for you, which is a small and legally-capped percentage of your payout that’s outlined in your agreement.

To learn more, please get in touch with one of our specialist advisors today using the contact information provided below.

How Do I Find A Specialist Data Breach Solicitor?

As phone calls and email correspondence can replace face-to-face meetings, the legal system now has the ability to function virtually. With this in mind, you don’t need to worry about your solicitor’s locality in order to connect with them. 

So, rather than heading to your local high street to source a law firm close to you, why not get in touch with our team at Legal Expert instead? 

As mentioned above, our specialist solicitors could give your claim the best chances of success by utilising their years of experience winning their clients the compensation that they deserve. In addition, our solicitors always handle cases on a No Win No Fee basis to ease any financial anxieties that you may have and encourage you to pursue your claim with peace of mind. 

To learn more about the services that we offer, please continue reading or get in touch today and see how we could help you. In the meantime, why not browse our reviews page to see what our past clients have to say about us?

Speaking To A Specialist Solicitor

At Legal Expert, our specialist advisors are on hand 24/7 to discuss everything mentioned in this article and more. By getting in touch today, you could receive a free consultation on your HSBC data breach, letting you know whether you could have a viable case and how much compensation you could be entitled to. 

What’s more, if you choose to proceed, you could be connected with one of our solicitors to have your claim handled on a No Win No Fee basis. 

So, whether you’re interested in learning more about our services or you’d like a free consultation on your potential data breach case, please don’t hesitate to get in touch today using one of the following methods:

  • Call 0800 073 8804 to speak to one of our specialist advisors
  • Fill in a contact form to get a callback 
  • Email info@legalexpert.co.uk and outline your circumstances
  • Use the chat feature at the bottom of your screen

Further Resources

Thank you for reading our HSBC data breach claims guide. We’d like to reiterate that if you’d like any more advice on the information provided in this article, please don’t hesitate to get in touch with our specialist team of advisors at Legal Expert today to receive a free consultation. 

In the meantime, please take a look through some of the additional resources that we’ve provided below that could be of use to you. 

Our alternative claims guides:

Extra resources:

 

Guide by Mavers

Edited by Billing

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