Co-operative Bank Data Breach – Could You Claim Compensation?

This guide will explore the steps you could take should a Co-operative Bank data breach occur. In this guide, we will also look at instances of when a bank may breach your personal data and the impact you could experience on several aspects of your life as a result.

We will also explore the legislation in place to protect your personal data and the responsibilities a data controller and data processor has as outlined by the legislation. A data controller sets the purpose for processing and can process the data themselves. A data processor acts on behalf of the controller.

Additionally, we will look at the personal information a bank may hold about you and the steps you can take if this information is compromised.

We will also look at your rights to seek compensation, the eligibility criteria for doing so and the settlement you could receive if you make a successful claim.

Please continue reading to learn more. Alternatively, you can speak with a member of our team. They can provide free legal advice 24/7. To get in touch, you can:  

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Co-operative Bank Data Breach – Could You Claim Compensation? 

A personal data breach is a security incident where your personal information is lost, destroyed or altered accidentally or unlawfully. It also includes the unauthorised disclosure of or access to your personal data.

Data controllers and data processors have a responsibility as per the UK General Data Protection Regulation (UK GDPR) and the Data Protection Act 2018 (DPA) to protect your personal data. As a data controller, banks must adhere to this legislation.

If they failed to do so, resulting in your personal information being breached, you could be impacted in several ways. However, in order to seek compensation, you must be able to prove:

  • The organisation’s failures caused the data breach.
  • The data breach compromised your personal data.
  • As a result, you suffered mentally or financially.

To learn whether you could claim after a breach of data protection, please get in touch. They can also advise you on the steps you could take if a Co-operative Bank data breach were to occur.

Financial Service Data Breach Statistics

The Information Commissioner’s Office (ICO) is an independent authority that upholds information rights. Additionally, they release data security incident trends for each financial quarter.

As per these trends, the ICO has stated that between Q2 in 2019 to Q2 in 2022, there have been 32,541 cyber and non-cyber security incidents reported to them. Of these reports, 3,082 were related to the finance, insurance and credit sector.

Some of the incidents that occurred include:

  • Data being emailed to the wrong email address.
  • Data being posted or faxed to the wrong person.
  • Phishing scams.

What Personal Data Is Held By Banks?

Personal data is any information that can be used to identify you. This can include:

Additionally, there is other personal information that requires extra protection, called special category data. This is information is regarded as sensitive and can include data that relating to your:

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

As per data protection law, data controllers and processors must ensure they protect this personal data. This includes both physical and digital data, e.g. paper files or memory sticks containing your personal data.

Although you may be wondering about the common causes of data breaches. they can happen for various reasons. For example, human error or a cyber security incident. Human error data breaches can include sending an email to the wrong person. A cyber security incident can include an organisation failing to update their security systems leaving them more susceptible to cyber attacks.

If you have had your personal data compromised in a breach, get in touch to learn the steps you could take.

What Impact Could A Personal Data Breach Have?

A personal data breach could cause you to suffer financially and psychologically. For example, you could suffer financial losses if your banking details were compromised in a bank data breach. This could result in money being taken from your account, charges being made to your debit or credit card or loans could even be taken out in your name, which could impact your credit score.

Additionally, you could suffer harm to your mental health following a personal data breach. For example, you may suffer anxiety due to a data breach, distress, stress or post-traumatic stress disorder in more severe cases.

Contact our advisors today to find out the steps you could take should a Co-operative Bank data breach occur.

What Could You Do Should A Co-operative Bank Data Breach Occur?

There are several steps you can take as the data subject following a breach of your personal data.

This can include contacting the organisation directly. If they fail to provide an adequate response or they fail to respond at all, you could get in touch with the ICO. They may investigate your complaint, in which case, you could use their findings as evidence if you’re eligible to make a claim.

There are also steps the organisation can take. For example, they must notify the ICO within 72 hours of the breach occurring if it affects your rights and freedoms. Additionally, they must inform you of the breach if it affects your rights and freedoms.

Additionally, you may find it beneficial to seek legal advice. Our team can offer free legal advice and can help you understand when you could be justified in putting forward a personal data breach claim.

Alternatively, they can discuss the steps you could take should a Co-operative Bank data breach occur.

How Much Compensation Could I Receive For A Personal Data Breach Claim?

After making a successful personal data breach claim, you could receive compensation for material damage and non-material damage within your settlement.

Non-material damage could compensate you for the impact the personal data breach has had on your mental health. 

Using the most recent edition of the Judicial College Guidelines (JCG), published in April 2022, we have created the following table. The JCG is used by legal professionals to help value the non-material damage head of claim.

Please only use this table as a guide. How much you could receive will vary depending on the specific factors of your case.

Injury Notes Award
Mental Harm (a) Severe: The person will experience marked difficulties in several areas of their life including education, work and relationships. They will have a very poor prognosis. £54,830 to £115,730
Mental Harm (b) Moderately Severe: The person experiences significant issues with their life, education and relationships but the prognosis is better. £19,070 to £54,830
Mental Harm (c) Moderate: Although the person has experienced issues with several aspects of their life, they will have significantly improved and will have a good prognosis. £5,860 to £19,070
Mental Harm (d) Less Severe: The award given will depend on several factors such as the extent to which the person was affected. £1,540 to £5,860
Anxiety Disorder (a) Severe: The person experiences a permanent and negative impact on all areas of their life. £59,860 to £100,670
Anxiety Disorder (b) Moderately Severe: The person has a better prognosis due to some recovery made with the help of a professional. £23,150 to £59,860
Anxiety Disorder (c) Moderate: The person has made a significant recovery. If they experience any ongoing effects, they won’t be majorly disabling. £8,180 to £23,150
Anxiety Disorder (d) Less Severe: Within a couple of years, the person will have mostly recovered. £3,950 to £8,180

Additionally, your settlement may consist of compensation for material damage. This relates to the financial losses caused by the personal data breach. You will need evidence to support your claim for these losses, such as credit card or debit card statements.

To learn more about how much compensation you could receive following a successful personal data breach claim, get in touch on the number above.

Call Us Should A Co-operative Bank Data Breach Occur And You Need Legal Advice

Following a personal data breach, you may want to be legally represented. If so, our panel of data breach solicitors could offer to represent you with a type of No Win No Fee agreement called a Conditional Fee Agreement.

With this type of arrangement, you usually don’t have to pay anything upfront to your solicitor for the services they provide. You also generally don’t have to pay them for their services if the claim fails. However, you will have to pay your solicitor a legally capped success fee if your claim is successful. This is paid from your compensation.

To be put into contact with a No Win No Fee solicitor from our panel, you can contact our advisors today. They are available 24/7 and can offer you free legal advice concerning your potential personal data breach claim.

To get in touch, you can:  

Learn More About Making A Personal Data Breach Claim

More articles by us about personal data breach claims:

Additional information and resources:

We hope this guide has provided you with the information you need. However, if you have any questions about the steps you could take should a Co-operative bank data breach occur, please get in touch using the details provided above.

Article by EO

Publisher EI