Last Updated On 22nd November 2024. This guide discusses when you could be eligible to make a bank statements data breach claim. Key legislation dictates how certain parties handle your personal data. But if they don’t abide by their legal obligations and you suffer psychological harm, monetary loss or both, claiming personal data breach compensation might be possible. You can find further guidance on the eligibility requirements later in this guide.
Additionally, we discuss how a breach involving your bank statements could occur and the personal data that could be affected as a result.
You will be awarded a settlement if you’re successful in your bank data breach claim. We will explore what this could comprise and the resources available to assign value to your case.
Since certain eligibility criteria must be met, we will also look at how you can support your case. This includes outlining potential evidence that you could gather and provide.
Finally, this guide examines the benefits you could expect from working with one of our panel of solicitors under a specific type of No Win No Fee contract.
To find out if you can instruct one of the solicitors from our panel, get in touch today. An advisor will discuss the details of your case to determine its validity. You can get started today by:
- Phoning us using 020 8050 3051
- Making an online enquiry by completing our Contact Us form
- Speaking with us on our website via live chat
Browse Our Guide
- Can You Seek Compensation For A Bank Statements Data Breach?
- How Could A Bank Statements Data Breach Happen?
- How Much Compensation Could You Receive For A Bank Data Breach?
- Actions That Could Help You Make A Data Breach Claim
- How No Win No Fee Data Protection Breach Solicitors Can Help You Claim
- Further Resources On How To Claim For A Bank Statements Data Breach
Can You Seek Compensation For A Bank Statements Data Breach?
Bank statements are examples of personal data that a data controller or data processor could process. A data controller chooses why and how your data is used and can elect to process it themselves. Alternatively, a data processor can handle the data on the controller’s behalf. In such circumstances, the processor would act on the controller’s directive.
Personal data is information which can be used to identify you, either alone or alongside other information. Examples include your name, address, account number and sort code, all of which can be found on a bank statement.
The UK General Data Protection Regulation (UK GDPR) and the Data Protection Act 2018 (DPA) govern how controllers and processors handle your personal data. If they breach their legal obligations, causing your personal data to become compromised, you could suffer psychological harm, financial loss or both.
As defined by the Information Commissioner’s Office (ICO), a UK data freedoms watchdog, a personal data breach involves a security incident that alters the confidentiality, integrity and availability of personal data.
If you want to pursue compensation due to a bank statements data breach, you must meet certain eligibility criteria. This involves showing that:
- A data controller or processor did not follow the UK GDPR or DPA.
- Because of their failings, a data breach occurred and your data was compromised.
- You experienced psychological harm, financial loss or both, because of the breach.
You might be uncertain whether you qualify for personal data breach compensation. That’s where our team of advisors come in. They are here to help and can provide a free consultation to uncover your case’s eligibility.
How Could A Bank Statements Data Breach Happen?
When a party handling your personal data fails in their obligation to abide by data protection laws, it could compromise your personal data. This could cause you monetary loss, mental harm, or both.
Banks provide statements to inform you of your banking activity. Below, are examples of how a bank statements data breach could come about.
- Your statement could be incorrectly posted to the wrong address when the bank doesn’t update its system with your new address. It could result in the unauthorised access of your sort code and account number, with the possible knock-on effect of your account being used for fraud.
- Due to insufficient cybersecurity, a data breach at a bank could occur through a cyber hack. This could lead to your bank statements being leaked. The details from your bank statements could be used to make fraudulent purchases in your name. As a result, you could experience both financial loss and mental harm in the form of stress and anxiety.
- While purchasing a house, you could provide your bank statements for anti-money laundering purposes. Your conveyancer might accidentally email this to another person. You might suffer stress and anxiety attacks upon being informed of this.
Many circumstances could lead to a data breach involving your bank statements. So, get in touch with our advisors now to discover the validity of your case.
How Much Compensation Could You Receive For A Bank Data Breach?
Making a successful bank statements data breach claim will lead to you receiving compensation. Depending on what happened, you might receive a payment addressing either one or two types of damage.
Non-material damage is the term used to cover the psychological effects of a data breach. For example, you may have suffered panic attacks and been diagnosed with anxiety because of the fear caused by a breach of personal information. The compensation for this form of damage can vary, depending on factors like:
- The extent of the mental harm.
- How your life is affected generally.
- The expected length of recovery time, if a recovery is possible.
Putting a value on someone’s mental harm is not necessarily straightforward, so those coming to a figure might lean on the Judicial College Guidelines (JCG) for guidance. The JCG is a document made up of brackets that illustrate possible compensation ranges for various forms and levels of injury, be they physical or mental.
You can see a table here that is made up of JCG brackets for psychological injuries. The top line is the only one that is not from the document. However, it is only intended as guidance, and ultimately your payout would depend on the specific factors unique to your case.
Compensation Table
| Injury | Severity | Compensation - Guideline Brackets | Notes |
|---|---|---|---|
| Psychological Injury Plus Financial Loss | Serious | Up to £200,000+ | A payment addressing serious mental injury in addition to financial impacts, such as a damaged credit score or lost earnings. |
| Psychiatric Damage | Severe | £66,920 to £141,240 | A poor prognosis associated with marked problems coping with many aspects of life, including work and relationships. |
| Moderately Severe | £23,270 to £66,920 | The prognosis is much more optimistic than above, despite significant problems coping with many parts of life. | |
| Moderate | £7,150 to £23,270 | Similar problems to those stated above but with a notable improvement and good prognosis. | |
| Less Severe | £1,880 to £7,150 | Award will depend on the length of time and severity of the harm the person has suffered. | |
| Post-Traumatic Stress Disorder | Severe | £73,050 to £122,850 | A persons life will be badly affected in all aspects. Their working ability won't approach anything close to pre-trauma levels. |
| Moderately Severe | £28,250 to £73,050 | Unlike the above, some recovery will be made with professional help. However, the person will suffer significant disability for the foreseeable future due to the trauma. | |
| Moderate | £9,980 to £28,250 | The person will make a large recovery with no grossly disabling continuing effects. | |
| Less Severe | £4,820 to £9,980 | Only minor issues will be ongoing past a couple of years. Prior to that, a mostly complete recovery will be made. |
Material Loss In A Data Breach Claim
It is entirely possible that a bank statements data breach could see you lose out financially. Your bank may be able to help you reclaim funds lost to fraud, but there might be other losses that a compensation claim would help you recover. These include:
- Relocation costs.
- Psychotherapy costs.
- Lost earnings from missing work due to stress.
You’ll need proof of your loss to claim, so keep any statements, credit card reports, payslips, receipts or other documents that could help.
You do not need to seek compensation for both types of damage, although you can if you were affected both ways. Call us today to learn more or ask for a more focused assessment of what data breach compensation you could receive.
Actions That Could Help You Make A Data Breach Claim
You must satisfy the eligibility criteria to make a bank statements data breach claim. You first must show that your personal data was involved in a breach caused by a data controller’s or processor’s failings. Then, you must prove this caused you to suffer mental harm, monetary loss or both.
Evidence can help prove both these points and examples of what you could supply include:
- Contact with the organisation. This could be a letter of notification sent by the controller informing you of how the breach happened and what data was affected. It could also include letters or emails you have sent them regarding the breach.
- Evidence of mental harm. This could include copies of your medical records which show the diagnosis of the psychological harm you’ve suffered.
- Evidence of your financial losses. As mentioned, this can include payslips, credit reports and bank statements.
Provided you have a valid personal data breach claim, a solicitor from our panel could help gather evidence as part of their service. Contact our advisors to find out if you’re eligible to claim personal data breach compensation today.
How No Win No Fee Data Protection Breach Solicitors Can Help You Claim
Following a consultation with one of our advisors, provided at no expense to yourself, you can learn the validity of your case. If deemed eligible, you could be offered expert help from one of the data breach solicitors on our panel under a Conditional Fee Agreement.
If you decide to proceed, this kind of No Win No Fee arrangement would ensure you wouldn’t have to pay for the solicitor’s services upfront or during the case. You also wouldn’t be required to pay for their service if your case was unsuccessful.
Supposing your case won, you’d receive compensation from which your solicitor would subtract their success fee. This is a proportion of the compensation that has a strict legal cap applied, meaning most of your award is yours to keep.
If your case is eligible and you want guidance through the legal process, plus the benefits of this type of agreement, contact us now. Our advisors could uncover the validity of your bank statements data breach claim and help you get started.
To get started with us today, get in touch by:
- Phoning us using 020 8050 3051
- Making an online enquiry by completing our Contact Us form
- Speaking with us on our website via live chat
Further Resources On How To Claim For A Bank Statements Data Breach
For even more helpful guidance, please visit:
- Learn how to claim compensation for distress following a personal data breach.
- Find out what to do if your data is breached and when you could be eligible to claim.
- Information about a human error data breach and when you could claim.
For some other help, please look here:
- Information about anxiety, fear and panic from the NHS.
- A guide about online fraud from Victim Support.
- Information about statutory sick pay from Gov UK.
We hope this guide has answered your questions about making a bank statements data breach claim. However, if you need any further guidance, please reach out to us by calling or using our live chat service.
Writer Will Gloughlin
Editor Meg Monsoon
