Monzo Bank Breach Of Data Protection – Can I Claim Compensation?

You may wonder ‘if Monzo Bank were to breach data protection’ would this mean your personal data is affected? In this article, we will explain what a breach of data protection legislation is and how this could lead to a personal data breach.

monzo bank breach of data protection

Monzo Bank Breach Of Data Protection – Can I Claim Compensation?

We will also discuss the claims process and how settlements are calculated for specific damage awards in personal data breach claims.

Further on in the article, we provide some examples of how a potential personal data breach could occur in a bank.

Should you have further questions, our advisors are available around the clock to help. They can provide free legal advice and can give you a free evaluation of your claim. They may even pass you on to our panel of No Win No Fee solicitors if they find your claim is valid. Talk to our advisors today by:

Select A Section b

  1. What Could A Monzo Bank Breach Of Data Protection Look Like?
  2. What Is Considered Sensitive Data Under The UK GDPR?
  3. What Happens If A Bank Has A Data Breach?
  4. Could You Claim Should Monzo Bank Breach Data Protection?
  5. Data Breach Compensation Examples
  6. Talk To Us About Starting A Claim If Impacted By A Personal Data Breach

What Could A Monzo Bank Breach Of Data Protection Look Like?

The UK General Data Protection Regulation (UK GDPR) and the Data Protection Act 2018 (DPA) outline the regulations that all data controllers and processors must follow when handling the personal data of UK residents.

A data controller decides why and how they need and use your personal data, whereas a data processor processes this data on the controller’s instructions.

The Information Commissioner’s Office (ICO) defines a personal data breach as a security incident that compromises your personal data’s confidentiality, availability or integrity.

If a data controller or processor has breached data protection legislation, they may have failed to comply with the legislation we have mentioned above. However, this does not mean a data breach has occurred. A personal data breach can be the result of their failure to effectively comply with data protection laws.

Even if you have fallen victim to a data breach and you have suffered harm as a consequence, this still does not entitle you to make a claim. In order to have solid grounds for a personal data breach claim, you must be able to satisfy the following criteria: 

  • A data controller or data processor did not take the necessary steps to protect your personal data.
  • As a consequence, your personal data was breached, and
  • This meant that you suffered harm in the form of financial losses and/or mental injury.

For more information or to find out if you could be eligible to claim, contact our team of advisors today.

Common Data Breach Statistics 

The ICO publishes data security incident trends, the figures are taken from incidents reported to them by organisations. These statistics show that in the 2021/22 financial year, there were 9,559 reported data security incidents. Of this number, 797 fell under the financial, insurance, and credit sectors. In Q4 of this year, 173 reported incidents fell under this sector.

What Is Considered Sensitive Data Under The UK GDPR?

The UK GDPR defines personal data as any information that could identify you. This can include your:

  • Name
  • Date of birth
  • Email address
  • Home address
  • Phone number

However, some forms of personal data require more protection than others. Sensitive data, or special category data, is a type of personal data that needs extra security in accordance with data protection legislation. Some examples of special category data that could be held by a bank can include information that refers to your:

  • Racial or ethnic origin
  • Sexual orientation
  • Health 
  • Trade union membership status

Should Monzo Bank breach data protection, you might need advice on what this could mean for you call our advisors for more information. 

What Happens If A Bank Has A Data Breach?

If a bank experiences a data breach that could affect your rights or your freedoms, it must report this to the ICO within 72 hours. They must also inform you without undue delay.

However, you may come across a personal data breach yourself. In this case, you can take your findings to the organisation responsible. They may then confirm the breach and may be able to provide more information. For example, you might ask what personal data was affected or how the breach occurred.

If the organisation does not respond, or if their response is not satisfactory, you can escalate your complaint to the ICO. However, wait no longer than 3 months to do so. The ICO can investigate suspected data breaches and are able to levy fines against organisations that do not comply with the law.

For more information on what steps you could take following a bank data breach, contact our team.

Could You Claim Should Monzo Bank Breach Data Protection?

As we mentioned previously, not every breach of data protection law will mean a data breach has occurred. This is because a breach of data protection legislation can occur without it affecting any data.

If you experience a personal data breach, this will mean data that can identify you or is considered sensitive has been breached. This will need to have been caused by a failure of the controller or processor to adhere to data protection laws in order to have a valid claim. Consequently, this will have needed to also cause you harm.

Harm caused by a data breach can be psychological damage or financial harm. We will discuss the types of damage you could claim following a breach in the next section.

For answers to questions should a potential Monzo Bank breach of data protection occur, contact our team of advisors?

Data Breach Compensation Examples

If your personal data breach claim is successful, you could receive two heads of compensation. These are:

  • Material damage – This head of compensation addresses the financial losses you experience as a result of the breach. For example, if your credit card details are compromised, this could lead to criminals making illegal purchases and accruing debt in your name. 
  • Non-material damage – The mental health injuries arising from your breach. Psychological issues like stress, post-traumatic stress disorder (PTSD), anxiety and depression can present in various ways.

The 16th edition of the Judicial College Guidelines (JCG) was introduced in 2022, establishing new guideline compensation amounts for legal professionals to consider when valuing personal injury, medical negligence, and data breach compensation claims. 

The settlement figures are split according to what the injury is and the level of severity. Please see the table below for possible payout figures for psychological injuries:

InjuryCompensationNotes
Severe psychological damage (a)£54,830 to £115,730The injured person will have severe problems with employability, education and relationships. These effects will be permanent.
Moderately severe psychological damage (b)£19,070 to £54,830Considerable problems still exist with the above factors, however, the prognosis will be better than above.
Moderate psychological damage (c)£5,860 to £19,070A good prognosis is present thanks to an improvement in symptoms.
Less severe psychological damage (d)£1,540 to £5,860The award depends on the person's disability and how it affects their daily life and sleep patterns.
Severe anxiety disorder (a)£59,860 to £100,670Where the ability to work has been severely impacted, causing the inability to work or to function at a level pre-trauma.
Moderately severe anxiety disorder (b)£23,150 to £59,860Some recovery can happen with professional treatment.
Moderate anxiety disorder (c)£8,180 to £23,150A large recovery with only non-disabling symptoms that remain.
Less severe anxiety disorder (d)£3,950 to £8,180A virtually full recovery within one to two years with only minor symptoms that continue.
 

The figures provided here are guidelines, not guarantees of what you could receive. For a free consultation, get in touch today. 

Talk To Us About Starting A Claim If Impacted By A Personal Data Breach

If you are interested in starting a claim after suffering harm due to a personal data breach, you may be interested in hiring legal representation. Our panel of No Win No Fee solicitors have over thirty years of combined experience and can offer representation through a Conditional Fee Agreement (CFA). Under a CFA, you usually don’t have to pay any ongoing fees or upfront costs.

Generally, the only fee you pay to your solicitor under a CFA is a success fee if your claim is successful. Your solicitor takes this as a percentage of your compensation. This percentage has a legal cap to help ensure that you get the majority of your award. But, if your claim does not succeed, this fee is not paid.

Get in touch with our advisors today to learn more:

Find Out More About Claiming For A Bank Data Breach

For more helpful guides regarding personal data breach claims:

Or, for further resources:

Our advisors can provide answers to questions you may have should a potential Monzo Bank breach of data protection ever occur when you get in touch.

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