Breach Of Bank Statements – When Could You Claim Compensation?

Breach-Of-Bank-Statement

A Guide To Breach Of Bank Statement Claims

In this guide, we explain how you could potentially make a claim after suffering harm from a breach of bank statements. 

We outline the criteria that must be met in order to have a valid personal data breach claim and what laws seek to protect your personal information. As you go through the guide, you will see how bank statement data breaches could occur if organisations fail to comply with data protection laws. 

Following on from this, we provide a list of steps you could under stake to strengthen any personal data breach claim and also how reporting the breach could help support your case.  

We highlight the different types of damages that can be awarded data breach compensation and detail how solicitors may consult resources during the valuing process.

To conclude our guide, we explain the way that a No Win No Fee agreement operates and what you can expect if a solicitor is to put forward an arrangement such as this. 

For more information on claiming after a breach of bank statements, please keep reading our guide.

Comparatively, you can speak directly with an advisor to discuss your claim further. In order to do so, you can use one of the methods listed below: 

  • Telephone us on 0161 696 9685
  • Contact us through the submission of our online claim form
  • Utilise our chat feature to begin a discussion and receive support

Select A Section

  1. When Could You Claim For A Breach Of Bank Statements?
  2. How Could A Bank Breach Your Personal Data
  3. Proving Liability For A Breach Of Bank Statements
  4. Compensation Payouts For A Bank Statement Data Breach
  5. Make A No Win No Fee Data Breach Compensation Claim
  6. Find Out More About Bank Data Breach Claims

When Could You Claim For A Breach Of Bank Statements? 

To begin, the Information Commissioner’s Office is an independent body created for the purpose of upholding your rights in relation to the processing of your personal data. They define a data breach as a security incident compromising the confidentiality, integrity and availability of your personal data. 

The Data Protection Act 2018 and the UK General Data Protection Regulations provide rules on how data should be protected. This legislation only protects data that can be used to identify you. 

Data that can identify you include all your personal data: your name, address, phone number, or email address. Additionally, special category data is personal data that is sensitive in nature and therefore needs extra protection. This can be personal data about your health, race, sexuality, or religious beliefs. 

Moreover, organisations that process your data are known as data controllers. They can decide to process the information internally or outsource it to a data processor.  

A data controller is responsible for making decisions concerning the collection of your data. A processor is typically hired as a third party by the controller and will process under their instruction. 

Article 82 of the UK GDPR states the criteria that you must meet in order to have a right to compensation: 

  • There was a failure on behalf of a data controller or processor to adhere to data protection laws, leading to a breach.
  • This breach concerned your personal information.
  • The compromise of your personal data has caused you to suffer harm. 

Please contact a member of our team to discuss your circumstances.  

Data Breach Claim Limitation Periods

If you are eligible to make a claim, you will need to be aware of the time limitations. Usually, you will have six years to claim against a company. 

Comparatively, if it is against a public body, you will typically have one year to begin a claim. 

For more information on time limits, please speak with a member of our team. 

How Could A Bank Breach Your Personal Data 

An organisation could potentially breach your personal data in a number of ways. In relation to bank statements, these documents can contain information such as your bank details, name and address. They can also show what you have bought, where you have been and how much you spend. 

  • Files were lost: Files containing bank statements of customers were not locked away securely, causing them to be lost.
  • Wrong postal address: If a staff member from the bank sends a physical copy of your bank statement to the incorrect address, this could lead to unauthorised persons gaining access to your personal information. 
  • Wrong email address: Information about your last statement could be sent to the wrong email recipient. 
  • Cyberattacks: The bank may not be up to date with its security measures, and this could leave your bank information vulnerable to hackers. They could use your details to make fraudulent purchases and damage your credit score. 

To get a free case assessment of your potential personal data breach claim, please get in contact with our advisors. 

Proving Liability For A Breach Of Bank Statements 

Establishing if there is a liable party for the breach of bank statements will be important. If an organisation has done all it can to protect your personal data, but a breach still happens, then a claim is unlikely. Evidence is key to building a strong case, here we look at the potential steps you can take in support of your personal data breach claim.

If the bank becomes aware of a data breach, it should notify you without undue delay if the compromise infringes upon your data freedoms and rights. They should also report the breach to the ICO. Any emails or documentation of your communication with the bank can be used as evidence. 

If you have spotted the data breach yourself, you can make contact with the organisation you feel may be responsible. You can ask how and why it happened and what is being done to rectify the situation. Correspondence will help you to gain a better understanding of how the breach occurred and what personal information has been compromised.

However, if you are not satisfied with the response, you can contact the ICO directly. You should do this within three months of the last correspondence you had with the data controller, as the ICO may not investigate if left any longer. 

They can conduct an investigation into the breach. Findings from this could potentially support your claim. 

Compensation Payouts For A Bank Statement Data Breach 

There are two kinds of damage you could suffer, and these are material and non-material. Non-material damage refers to the emotional distress or harm you have experienced due to a data breach. 

For example, if you suffer from anxiety caused by a data breach, you may be eligible to receive compensation. Evidence to support this can include notes from your GP or therapist detailing the effect the breach has had on you emotionally. 

When legal professionals value the harm you have experienced, they may refer to the Judicial College Guidelines. This contains bracket compensation amounts for injuries.

The figures are in the table below. However, they should be used only as a guide as the amounts are not definite. Your award can vary depending on your circumstances. 

Compensation Guidelines

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Injury Severity Notes Compensation Guidelines
Psychiatric Severe (a) The prognosis is poor and there are marked problems with the persons abilities to cope with work and personal relationships. £54,830 to £115,730
Moderately Severe (b) There are significant problems with abilities to cope with employment and family, however, the prognosis has improved and is much more optimistic. £19,070 to £54,830
Moderate (c) There are still issues in coping with life, work, and education but the prognosis is good and there has been notable improvement. £5,860 to £19,070
Less Severe (d) The duration of which the disability lasts is considered as well as the impact on daily activities. £1,540 to £5,860
Post-Traumatic Stress Disorder Severe (a) The effects are permanent and preventing the person from working as all areas of their life are affected. £59,860 to £100,670
Moderately Severe (b) The claimant will suffer significant effects but the prognosis is better with a professionals help. £23,150 to £59,860
Moderate (c) The person has had a substantial recovery and any residual effects are not majorly impactful. £8,180 to £23,150
Less Severe (d) A full recovery has virtually taken place within one to two years. Only minor symptoms persist. £3,950 to £8,180

Material damage is another kind of harm you could receive compensation for. This relates to the financial losses you have incurred, particularly if someone has used your details to make fraudulent purchases which have, in turn, damaged your credit score.

Evidence to support this could be financial documents, such as credit reports to show the damage. 

For more information about claiming compensation after a breach of bank statements, please contact an advisor from our team. 

Make A No Win No Fee Data Breach Compensation Claim 

Working with a No Win No Fee solicitor could be something beneficial to you when starting a data breach claim. A popular form of these arrangements is a Conditional Fee Agreement. 

These will usually operate in a way that means if your claim is unsuccessful, there will be no expectation for you to pay for the services of your solicitor. 

Alternatively, if your claim is successful, a fee will be deducted from the compensation you are awarded by your solicitor. These are success fees.

The percentage that solicitors are legally permitted to take is capped by the Conditional Fee Agreements Order 2013

To learn more about No Win No Fee agreements, please get in touch with our team. 

Contact Us 

To conclude, if you would like to discuss the potential of your claim, you can get in contact with our team for a free evaluation.

If you have any queries about making a claim after your personal information was involved in a breach of bank statements, you can get in touch: 

Find Out More About Bank Data Breach Claims 

If you found our guide on making a claim after a breach of bank statements useful, you can find even more of our information below:

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