Equifax data hack fine imminent

equifax data hack compensation

The Financial Conduct Authority’s (FCA) investigation into the Equifax data hack is expected to result in a financial penalty of millions of pounds. In response, our data breach solicitors are ready to launch a huge group action against Equifax.

The FCA investigation

The FCA revealed that it was investigating the Equifax data breach in October last year. While the FCA does not typically disclose whether it is looking into a company, it said it had chosen to confirm the existence of an investigation given the “public interest” in the case.

The Equifax data breach compromised the personal information of 14 million customers, with 30,000 people having their email addresses stolen and 15,000 having their credit card details put at risk. The potential consequences of the breach include financial fraud, identify fraud, cyber-extortion and online harassment.

While the Information Commissioner’s Office (ICO) is also investigating the breach, the news about the FCAs involvement was significant for consumers because the FCA has considerably more powers than the ICO. This means that the matter is being treated very seriously.

Given the significance of this case, and the number of people involved, our data breach solicitors predict that the regulator may well impose financial penalties running into the millions of pounds.

However, while a fine would be an essential step in ensuring big businesses like Equifax do more to uphold their obligations and keep people safe, it does very little to help those already affected by the breach. As such, anyone who has suffered following the Equifax cyber-attack should be looking to claim compensation.

In fact, if the FCA does rule against Equifax, this could help customers to get compensation through civil litigation.

At Hayes Connor Solicitors, our data breach solicitors are ready to help victims of the Equifax data hack to claim compensation and get the payment they deserve. In fact, over the last few months, our data breach and cybercrime experts have witnessed an influx of queries from people who are concerned that their data may be at risk.

Crucially, it doesn’t matter if you haven’t lost out financially as a result of the Equifax hack. Being the victim of a crime can have a significant impact on you mentally and physically. So, if the data breach has caused you stress or anxiety – in a way that could be diagnosed by a psychologist – then the law agrees that you are entitled to compensation.

To help our clients get the justice they deserve, we are launching a group action against Equifax. This allows people with the same type of claim to bring it together on a collective basis. Doing this strengthens their overall position and increases their chances of settlement or success at Court. What’s more, we are also providing no-win, no-fee funding arrangements in this case, and, if successful, we won’t charge a “success fee”. This means, if you are awarded £1,500, you will get all of the compensation. There are no solicitor’s fees win or lose.

Let our data breach solicitors help you

To become part of the Equifax group action, you will need to register with Hayes Connor Solicitors. Doing this guarantees that you will form part of the compensation claims that will be lodged by the firm. While each case is different, it is expected that each person will be able to claim between £500 and £3,000.


If you have been affected and want to join the group action, you can register your details here.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply