Virgin Money Data Breach – Could You Claim Compensation?

This guide will explain what potential steps you could take should a Virgin Money data breach occur and affect your personal data.

Virgin Money data breach compensation claims guide

Virgin Money data breach compensation claims guide

Virgin Money is a financial services company. As a data controller, the party who sets out the purpose for processing, they must adhere to legislation such as the UK General Data Protection Regulation and the Data Protection Act 2018.

These two pieces of data protection law set out a data controllers responsibility for protecting the personal data of data subjects. A data processor also must adhere to these laws as the party who acts on behalf of the controller.

Furthermore, we will provide guidance on what a personal data breach is, how one could occur and how you could be affected. We will also explore the right you have to seek compensation under data protection law provided your claim meets the relevant criteria.

Please continue reading for more information. However, if you can prefer, you can speak with an advisor for more information. To get in touch, you can:

  • Call on 0800 408 7825
  • Contact us via the form on our website
  • Chat with an advisor via the live chat feature below.

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Virgin Money Data Breach – Could You Claim Compensation?

A personal data breach involves a security incident in which your personal information is destroyed, lost or altered either accidentally or unlawfully. It can also lead to your personal data being disclosed or accessed without authorisation.

There are various types of personal data breaches, including cyber and non-cyber. Cyber incidents can include an organisation failing to keep their online security systems up dated, making them more susceptible to online attacks, such as a ransomware attack.

Non-cyber incidents usually occur as a result of human error. For example:

  • Sending an email containing sensitive information to the address resulting in an email data breach.
  • Sending a letter containing information relating to your finances to the wrong postal address.
  • Leaving a file containing your personal information in an unlocked cabinet, allowing for it to be accessed without authorisation.

However, not all breaches of data protection laws will form the basis of a valid claim. You must be able to prove that:

  • A data controller or processor didn’t follow data protection law.
  • Their failings led to your personal data being breached.
  • As a result of the wrongful conduct causing a breach of your personal data, you experienced financial loss or emotional harm.

If your personal data were to be affected should a Virgin Money data breach occur, please get in touch on the number above. An advisor can talk about the action you may be able to take.

Statistics On Financial Services Data Breaches

The Information Commissioner’s Office is a public body that enforces data protection laws and upholds the rights and freedoms of data subjects.

They use reports made to them to track data security incident trends. As per these statistics, there were 3,082 incidents reported from Quarter 2 of 2019 to Quarter 2 of 2022. Of these:

  • 2,252 were non-cyber incidents
  • 830 were cyber incidents

What Types Of Data Can A Bank Collect?

Personal data is information that can be used to identify you as a living person. There are different types, including:

  • Name
  • Postal address
  • Date of birth
  • Email address
  • Phone number
  • Debit and credit card details
  • Bank account information, including a joint bank account

Additionally, some personal data is afforded extra protection under data protection law. This is due to it’s sensitive nature. It is known as special category data and can include biometric data, data relating to the sexual orientation of a person and data that reveals a trade union membership.

If your personal data is affected, it could impact you in several ways. To find out what you could do if a Virgin Money data breach were to occur and your personal data is affected, get in touch on the number above.

Understanding The Risk A Data Protection Breach Could Have

Following a breach of your personal data, you could be impacted financially and emotionally. For example, you could have money stolen from your account and loans taken out in your name which could have an impact on your financial situation in the long and short-term.

Additionally, a personal data breach could have a negative impact on your mental health and wellbeing. For example, you may be caused stress and anxiety. This could also mean you are required to take time off work which could cause you a loss of earnings.

If you have been affected either financially or psychologically after your personal data has been breached, please get in touch with our team. Alternatively, read on to learn more about the steps you could take.

What Could I Do If A Virgin Money Data Breach Were To Occur?

After your personal data is breached, the organisation responsible should contact you without undue delay, provided the breach puts your rights and freedoms at risk. If they do not get in touch, you could contact the organisation directly to find out more about the nature of the breach and what information has been affected.

However, if the organisation fails to respond or does not provide an adequate response, you can get in touch with the ICO. The ICO may choose to investigate your concerns.

If they do, you can use the findings from their investigation as well as any correspondence you have had with the organisation to help support your potential claim, provided you’re eligible to seek compensation for a data breach.

To learn more about what you could do should a Virgin Money data breach occur leading to your personal data being compromised.

How Much Data Breach Compensation Could I Receive?

After making a successful claim, a settlement could be awarded that consists of compensation for the material and non-material damage you experienced. These relate to the different ways in which a data breach has affected you. For example:

  • Material damage is the monetary losses you have experienced as a result of the personal data breach.
  • Non-material damage is the mental harm you have experienced as a result of the personal data breach.

In order to accurately calculate how much you could be awarded for non-material damage, data breach solicitors can use the Judicial College Guidelines (JCG) to help them. This set of guidelines contains a list of different types of harm that correspond with compensation brackets.

The table contains figures from the JCG. However, you should only use the figures as a guide because each settlement can vary depending on your unique circumstances.

Type of Harm Guideline Compensation Bracket Additional Notes
Severe Mental Harm (a) £54,830 to £115,730 Significant difficulties are faced across different aspects of the injured person’s life. The prognosis is very poor.
Moderately Severe Mental Harm (b) £19,070 to £54,830 Despite the prognosis being better than in severe cases, the person still faces significant issues across several areas of their life.
Moderate Mental Harm (c) £5,860 to £19,070 There is a good prognosis with significant improvements having been made.
Less Severe Mental Harm (d) £1,540 to £5,860 Damages may be awarded based on factors such as the duration of suffering and the degree to which everyday life was impacted.
Severe Anxiety Disorder (a) £59,860 to £100,670 There are permanent and negative effects on all parts of the person’s life meaning they cannot function at the same level as they once did.
Moderately Severe Anxiety Disorder (b) £23,150 to £59,860 Whilst there has been some recovery, there is still a risk of significant disability for the foreseeable future.
Moderate Anxiety Disorder (c) £8,180 to £23,150 If there are any ongoing effects, they won’t be hugely disabling and the person will have made a significant recovery.
Less Severe Anxiety Disorder (d) £3,950 to £8,180 Over a period of one to two years, there will have been a mostly full recovery. Any ongoing symptoms will only be minor.

To find out how much compensation you could be awarded following a successful personal data breach claim, get in touch on the number above.

Speak With Us Should A Virgin Money Data Breach Occur

You can choose to make a No Win No Fee claim which means you could be offered a Conditional Fee Agreement. This is a type of No Win No Fee arrangement and can typically allow you to avoid paying for your solicitor’s services upfront or while the claim is ongoing.

Additionally, you won’t be required to pay for the work your solicitor has done if your claim does not succeed. Following the completion of a successful claim, you will be charged a success fee. This is taken from your compensation as a percentage that is capped by the law.

The solicitors from our panel can operate your claim on this basis, provided it’s valid and has a chance of succeeding. For more information on whether you’re eligible to have a solicitor represent your case, get in touch using the details below.

Contact Us For Free Legal Advice

We hope this guide on the steps you could take should a Virgin Money data breach occur has helped. You can get in touch with our team of advisors to learn more. Get in touch by:

  • Calling on 0800 408 7825
  • Filling out our ‘contact us’ form on our website
  • Chatting with an advisor via the live chat feature below.

Learn More About Claims For Data Breaches

Below, we have provided some more of our guides about data breach claims.

Additionally, please find some external resources that you may find helpful.

Thank you for reading this guide on what you could do if a Virgin Money data breach were to occur and affect your personal data. For more information, get in touch using the details provided above.

Article by AH

Publisher EI