Virgin Money Data Breach – When Could You Claim Compensation?

In this guide, we explore the steps you could take should a Virgin Money data breach occur. Learn what a data breach is and what legislation is in place to protect your personal data. 

In addition, we look at the definition of personal data, as well as what could happen as the result of a breach. We explore what organisations could do to keep your personal data safe and when they have to notify you of a data breach. 

Virgin Money Data Breach - When Could You Claim Compensation

Virgin Money Data Breach – When Could You Claim Compensation

We also explore data breach compensation eligibility criteria. If you do qualify for compensation, we look at what could make up a data breach claim. 

Towards the end of this guide, we look at No Win No Fee arrangements. If you are eligible for data breach compensation, you may want to consider hiring a solicitor. A No Win No Fee arrangement could reduce the financial risk of doing so. 

You can contact our advisors to learn more about the next steps you could take if affected by a personal data breach. 

To speak to a member of our team:

Select A Section

  1. A Guide On Claims For A Bank Data Breach
  2. If A Virgin Money Data Breach Occurs, What Data Could Be Affected?
  3. What Are The Consequences Of A Personal Data Breach?
  4. Check Who Could Make A Claim Should A Potential Virgin Money Data Breach Occur
  5. Bank Data Breach Compensation Calculator
  6. Talk To Us If You Have Questions Should A Virgin Money Data Breach Happen

A Guide On Claims For A Bank Data Breach

In the UK, the UK General Data Protection Regulation (UK GDPR) and the Data Protection Act 2018 outline the steps that should be taken in personal data security. Under this legislation: 

  • Data subjects are granted increased rights over how personal data is processed.
  • Data controllers and processors are held responsible for adhering to data protection laws. A data controller is a party that decides how and why your personal data is processed. A data processor can be appointed to carry out data processing on the behalf of a controller. They also need to adhere to data protection laws. 
  • If they meet specific claiming criteria, then a data subject may be entitled to compensation following a breach that has caused harm. 

The UK GDPR defines a data breach as a security incident that impacts the confidentiality, availability and integrity of personal data.

Our advisors can discuss the consequences of experiencing a bank data breach with you. They can also explain the steps you could take if a Virgin Money data breach were to occur. 

How Common Are Financial Service Data Breaches?

The Information Commissioner’s Office (ICO) is an independent authority set up to help protect the public’s personal data. As part of the ICO’s role, they publish data security incident trend statistics. The graph below shows non-cyber incidents in the finance, insurance and credit sectors. They were reported during the fourth quarter of the 2021/22 financial year.

Non-cyber security incidents in the financial, insurance and credit sector Q4 2021/22

Non-cyber security incidents in the financial, insurance and credit sector Q4 2021/22

If A Virgin Money Data Breach Occurs, What Data Could Be Affected?

Should a Virgin Money data breach occur, you might like to know what data could be affected. A bank may process your personal data. Personal data is any data that can identify you, whether this is possible using the data alone or by combining it with other data.

Personal data can include: 

  • Name
  • Address 
  • Phone number
  • Email address
  • Date of birth
  • Account number and sort code
  • Debit and credit card information

It may also hold some personal data that is more sensitive in nature. Data protection laws give sensitive data extra protection. This is known as special category data. It can include personal data relating to your: 

  • Sexuality
  • Trade union membership
  • Racial or ethnic origin
  • Biometric data

Free legal advice is available on what steps you could take should a Virgin Money data breach occur that affects your personal data. 

 What Are The Consequences Of A Personal Data Breach?

Banks hold a lot of customer details on their databases. A data breach could expose this information. Criminals could gain access to your current account, for example. Financial loss and identity theft could also occur. Additionally, a family data breach could occur if criminals gain access to a joint account. 

Below, we have included examples of how a data breach could occur:

Data breach claims can be discussed with our advisors 24 hours a day, 7 days a week. 

Check Who Could Make A Claim Should A Potential Virgin Money Data Breach Occur

 Article 82 of the UK GDPR entitles data subjects to compensation if they are harmed by a data breach. There is, however, specific eligibility criteria. 

In order to claim, you must prove that:

  • The data controller failed to adhere to data protection laws. 
  • The data breach included your personal data. 
  • You experienced harm, either financially or mentally. 

As well as financial harm, you may experience stress due to a data breach. You can now claim data breach compensation for a psychological injury without experiencing financial losses. It used to be the case that you needed to claim for financial losses in order for your claim to include compensation for mental harm. 

Our advisors can talk you through the steps you could take if a Virgin Money data breach were to occur, affecting your personal data. 

Bank Data Breach Compensation Calculator

You may wish to know how data breach compensation is calculated should a Virgin Money data breach occur. Two heads could form a data breach claim. 

Firstly, you could receive compensation for material damage. Secondly, you could be compensated for non-material damage, which refers to emotional harm such as post-traumatic stress disorder (PTSD).

As already mentioned, you do not need to experience material damage to claim for non-material damage. To claim, however, you may be asked to attend an independent medical assessment. This allows for a more accurate understanding of your psychological injuries. 

Evidence In A Bank Data Breach Claim

The correct evidence could help recover your financial losses. You could submit bank statements as proof, for example. 

You may be wondering how compensation for non-material damages could be valued. When valuing personal injury claims, legal professionals will use the Judicial College Guidelines (JCG).

To help assign value to your mental health injury, a legal professional will refer to the same document. It provides a set of compensation brackets listed with different injuries.

The table below contains psychiatric damages and PTSD from the 16th edition of the JCG, published in April 2022. 

Edit
Injury Severity Potential Compensation Notes
Psychological damage Severe (a) £54,830 to £115,730 The claimant experiences an inability to cope with life and relationships due to the symptoms. Very poor prognosis.
Psychological damage Moderately Severe (b) £19,070 to £54,830 Significant problems with life and relationships due to the symptoms, but with an optimistic prognosis.
Psychological damage Moderate (c) £5,860 to £19,070 There will be problems in life and with relationships, however improvements in the claimant’s mental state occur and the prognosis is good.
Psychological damage Less severe (d) £1,540 to £5,860 A mental injury that results in a period of disability impacting daily activities and sleeping ability.
PTSD Severe (a) £59,860 to £100,670 The claimant loses the ability to function at the same level as prior to the trauma permanently. This has a bad impact on all areas of life.
PTSD Moderately Severe (b) £23,150 to £59,860 With the help of a professional, the claimant may make some recovery, however, the symptoms cause a significant disability lasting into the foreseeable future.
PTSD Moderate (c) £8,180 to £23,150 The claimant largely recovers, however they may continue to experience some symptoms that are not grossly disabling.
PTSD Less severe (d) £3,950 to £8,180 Some minor symptoms may persist beyond 1-2 years, but for the most part, the claimant has made virtually a full recovery.

Call our advisors to learn more about how the claims process works. If you have a valid claim they could connect you with a solicitor from our panel. 

Talk To Us If You Have Questions Should A Virgin Money Data Breach Happen 

Should a Virgin Money data breach occur and your personal data be involved, you might like to seek the services of a No Win No Fee solicitor. Their data breach claim services could be provided under a Conditional Fee Agreement (CFA)

For you, this means that your solicitor will usually not charge an upfront solicitors fee. Payment for their services is taken from the awards of successful claims. This is known as a success fee. This fee is legally capped. If your claim is unsuccessful, however, you will generally not have to pay for the work of your lawyer. 

You can contact our data breach claims team any time of the day or night for advice on the next steps you could take. 

To speak to a member of our team:

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If you have any questions about how a potential Virgin Money data breach could occur, please speak with an advisor.

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