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Equifax staff treating customers with disdain following data breach

equifax

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.

Find out more

A breach of trust

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.

How to make a compensation claim against Equifax

If you are in any way concerned, contact Hayes Connor Solicitors and let us know. You can register your details here.

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.

VISIT OUR SECURE DATA BREACH FORM

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