The Equifax UK breach case is drawing to a conclusion, and we are hopeful that we will soon be able to start a group action against the company. However, it seems that the more we find out about this case, the worse it gets.
Earlier this year, we described how the lack of care shown towards customers affected by the Equifax data breach was made even worse when it was revealed that a former Equifax executive sold his shares in the company before the news of the data breach went public.
Earning roughly $1 million in the process, the executive was set to profit at the expense of millions of customers (in the UK and US). Luckily he was later charged with insider trading, but his actions reflect a disdain for consumer data protection that is all too common.
Last week there were reports that yet another staffer at Equifax was slapped with an insider trading rap. This time the culprit was a software engineering manager who “traded on confidential information he received while creating a website for consumers impacted by a data breach.”
It’s becoming clear, therefore, that something has to be done to hold Equifax to account. Particularly as people at the company appear to be showing a complete disregard of the impact the data breach has had on customers.
What is happening in the Equifax UK breach case?
In the UK, investigations led by the Information Commissioner’s Office and Financial Conduct Authority (FCA) are ongoing. However, industry experts are predicting that the FCA investigation into the Equifax data breach is now coming to an end.
If the FCA finds Equifax guilty of not looking after consumer data with the necessary levels of care, this could open the floodgates to millions of compensation claims being made against Equifax.
How much compensation could you receive?
While each case is different, it is expected that each person will be able to claim between £500 and £3,000. With 14 million customers affected in the UK alone, in addition to any fines imposed by the regulator, Equifax could find itself facing a compensation bill of millions of pounds. And that’s just for the Equifax UK breach. The figures in the US could be even more staggering.
Your data is a valuable commodity. With enough information, cybercriminals can apply for credit in your name, set up fraudulent bank accounts and access your existing accounts. But all too often companies like Equifax do not protect it as well as they should do. As a result data breaches are on the rise.
To make matters worse, in most cases, data losses are entirely preventable; businesses just don’t like investing in cybersecurity, updating their systems, or training their staff.
With large-scale, high-profile hacks and breaches happening more and more often, something has to be done to make companies accountable for these losses. So, claiming compensation isn’t just in your best interests – it could be the only way to ensure that they implement more secure processes.
Don’t be bought off!
Those affected by the Equifax UK breach were offered some free services to reduce their risk following the hack. These included a credit-report monitoring service, a web monitoring service, the option to get a copy of your credit report by post, and registration to a fraud protection service.
However, it’s vital that you know your rights before you sign up. Make sure you are not inadvertently signing away your rights to pursue a compensation claim at a later date.
We will check if you have had your data breached (if the company has not written to you and admitted as much already). And, once we have established that your data has been violated, we will start the claims procedure on your behalf.
When the results of the FCA investigation are revealed, we will make sure you are part of our group action against Equifax. With this group action claim, you and the other claimants collectively bring your cases to court against Equifax. Where circumstances are very similar, group actions can be a powerful tool and can have a bigger impact than a single claim.
https://www.hayesconnor.co.uk/wp-content/uploads/2018/04/EQUIFAX-DATA-BREACH.png788940Hayes Connor Solicitorshttps://www.hayesconnor.co.uk/wp-content/uploads/2016/12/Hayes_Logo_header_300-300x110.pngHayes Connor Solicitors2018-08-06 11:02:342018-08-06 11:02:34Equifax staff treating customers with disdain following data breach
Why should you join a group action case against Equifax?
A group action allows people with the same type of claim to bring it together on a collective basis. Group action claims are becoming far more common in the UK. Here are just some of the reasons why:
Strength in numbers. Starting a claim can be frightening, and it’s not unusual for people who have perfectly valid complaints to be put off due to the risks of going up against a large and well-resourced Defendant. Where cases are very similar, group actions can be a powerful tool and can redress the balance
Save on legal costs. By joining together, individuals can share the risks and costs of claiming compensation. Legal advice is also shared, so not everyone in the action needs to pay for their own solicitor
Help victims with smaller claims. Group actions provide a way for people with more modest cases (that may not justify legal fees) to claim the compensation they deserve. Often, solicitors will agree to take such cases on a no-win no-fee basis
You might not have to go to court. Usually, a Test Case is started, and common issues are tried. The result of this case is then used as a precedent for other cases in the action; so every single claim doesn’t have to be taken to court.
However, just because a case is part of a group action, this doesn’t mean that everyone will get the same amount of compensation if successful. All claims within a group action are still settled based on their merits, and victims will receive what they are owed.
We believe that a group action is the best way to seek compensation from Equifax.
How much does it cost to join the Equifax group action?
At Hayes Connor Solicitors, we are dealing with all Equifax data breach claims on a no-win, no-fee basis. This means that, if your claim is not successful, you won’t have to pay a penny.
What’s more, if your claim is successful we expect to be paid by the offending party (Equifax). So, as well as providing no-win, no-fee funding arrangements, we won’t charge you a “success fee”. This means, if you are awarded £1,500, you’ll get all of the compensation. There are no solicitor’s fees win or lose.
There are also no hidden charges or other administration fees.
How much compensation can you expect following the Equifax data breach?
We cannot say that you will definitely get compensation, but a group action helps to strengthen your chances. We believe Equifax has breached people’s data and needs to be held responsible by compensating for any losses, distress and inconvenience caused.
While each case is different, it is expected that each person will be able to claim between £1,000 and £2,500 (possibly even more for people who have had their financial data stolen).
What should you do now?
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. We will keep your details (securely of course!) and help you get the compensation you deserve.
Once you have registered with us, it’s important to keep a ‘diary’ or note of events since the hack. This will help us with your case.
Has your card been used without permission?
Are there transactions that you bank has picked up that you haven’t made?
Are you getting more ‘spam’ or junk email with your name on it? If so, create a folder and keep it as this may be relevant
Are you anxious or worried by the thought of people being able to access your data? Has this caused you any distress?
We have already received an influx of queries from people whose data was put at risk by the credit reference agency. If you were affected, you could be entitled to up to several thousand pounds, so it’s important to act now.
https://www.hayesconnor.co.uk/wp-content/uploads/2018/07/23.png788940Hayes Connor Solicitorshttps://www.hayesconnor.co.uk/wp-content/uploads/2016/12/Hayes_Logo_header_300-300x110.pngHayes Connor Solicitors2018-07-26 11:20:172018-07-31 15:18:34Everything you need to know about making a Group Action Claim against Equifax
The investigation by the Financial Conduct Authority (FCA) into Equifax data hack is now drawing to a close. And, our data breach compensation solicitors are predicting that the regulator may well impose a financial penalty of millions of pounds.
So, if you think your data was put at risk because of the Equifax data breach, now is the time to start preparing your claim for compensation. But how much could you receive?
Well, while each case is different, it is expected that each person will be able to claim between £500 and £3,000.
Likely compensation pay-out
Other personal data
£500 – £1,000
With 14 million customers affected in the UK alone, in addition to any fines imposed by the regulator, Equifax could find itself facing a compensation bill of millions of pounds. And that’s just this side of the Atlantic. The figures in the US could be even more staggering.
If Equifax is already being fined by the FCA, why do you still need to claim compensation?
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.
However, any fine given by the FCA will not go towards victims of the data breach. So, anyone who has suffered following the Equifax cyber-attack should be looking to claim compensation.
At Hayes Connor Solicitors our data breach compensation solicitors are ready to help victims of the Equifax data hack to claim compensation and get the payment they deserve. You can claim if you have lost out financially because of the hack, or if the data breach has caused you stress or anxiety (in a way that could be diagnosed by a psychologist).
To help you get the justice you deserve, we are launching a group action against Equifax. This strengthens your overall position and increases your 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.
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.
https://www.hayesconnor.co.uk/wp-content/uploads/2018/06/2-1.png788940Hayes Connor Solicitorshttps://www.hayesconnor.co.uk/wp-content/uploads/2016/12/Hayes_Logo_header_300-300x110.pngHayes Connor Solicitors2018-06-29 15:51:282018-06-28 07:09:59How much compensation could you receive following the Equifax data hack?
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