GDPR Lloyds: data breach and compensation

Lloyds GDPR: how does the bank handle your data?

One of the oldest British financial institutions in the UK, Lloyds Bank, has integrated Data Protection Act 2018 along with General Data Protection Regulation (GDPR) into its privacy policy. This means that the bank strives to assure that its customers have more rights and protection in the case of a personal data breach.

The bank customers’ information is held by Lloyds Bank plc that makes part of Lloyds Banking Group. The privacy notice outlines how the clients’ privacy is protected by Lloyds Bank according to GDPR and DPA. It clarifies:

• what personal information is held by the bank and how it is acquired;
• how the information can and cannot be used;
• who the company can share the information with.

The bank collects personal information from its Banking Group and from the following sources:

• data provided by the clients themselves as part of an application for a bank account, emails, surveys, etc.
• data that derives from the use of bank services by clients during profile creation, money transactions and payments, including time, amount, origin, location and recipients
• data from third parties such as financial advisors, market researchers, companies that provide services in data mining, etc.

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As required by law, the bank can share personal information with external parties only if there is a legitimate reason for doing so, such as:

• to satisfy a legal obligation or legitimate interest of the bank
• to effectuate the contract agreed with the customer
• if the client authorizes sharing
• if it is within a public interest

As one of the examples, the bank shall carry out credit checks to provide the clients with loans or credit cards. This involves sharing the private data such as account balance and funds going into the account with Credit Reference Agencies (CRAs). In return, the agencies provide their opinion.

All important information will be shared with the CRAs. If the client reports that he has a spouse or a partner, a financial link, this information will be part of the records. This is because it is helpful for the evaluation of the client’s financial position.

Such sharing and exchange of information shall be done to handle the risks for the bank and its clients, identify, examine and prevent financial crime.

The client has every right to withdraw his consent on the storage and use of personal data. Moreover, under GDPR, Lloyds has to change or remove data or provide a copy of personal data as per Data Subject Access Request (DSAR).

Your Lloyds personal data breached? You might have a right to compensation - up to £5,000 Claim Data Breach Compensation NOW

Data breach claim: cases involving Lloyds bank

The privacy policy established by Lloyds complies with GDPR. It acts as a sound basis for ensuring the protection of customer data. However, the security of bank data is still vulnerable. This is evidenced by many Lloyd bank data breaches that happened during the last few years.

Here are some examples of the Data Protection Act breach cases that took place at Lloyds or affected the clients of Lloyds:

1. Lloyds Banking Group cyber attack in January 2017 when the bank was hit by the Disturbed Denial of Service (DDoS) attack. The hackers took over Lloyds’s servers and inundated their website with a lot of traffic planned to ruin online services. This Lloyds Bank cyber attack was particularly grave, lasting 48 hours and targeting to block 20 million accounts. The cybercriminals were hoping to receive a ransom from Lloyds. Fortunately, no private or financial data was compromised since the bank’s security team eventually took the situation under control.
2. TSB data breach when changing Lloyds IT system in 2018. TSB Bank was organizing to move the accounts of more than 5 million of its clients from an outdated Lloyds IT system to the one developed by Spanish Banco Sabadell. TSB separated from Lloyds in 2013, but up till 2018, it was still operating with the help of Lloyds IT system. Once the transfer occurred, the clients reported that they cannot manage to login into their accounts. Moreover, there was also the personal data breach with the sequence of data leaks and glitches.
3. Lloyd Bank’s operation was affected by a cyber attack in November 2018 that happened to third-party partners, Ticketmaster and British Airways. The hacks struck at these companies compromised the personal and payment data of more than 100,000 individuals. As a safety measure, Lloyds had to replace the debit cards of the victims.

If you feel like your data is part of Lloyds data protection breach, please contact the expert team of DataClaim. We would be happy to handle all the claiming process on your behalf based on No-Win, No-Fee basis.

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GDPR data breach compensation from Lloyds: do I have the right?

You are eligible for data breach compensation UK if:

• you were informed about the Lloyd Bank cyber attack or another breach by the bank or media;
• your private information was affected by the Lloyds data breach;
• you file a GDPR breach claim within specific deadline which is 6 years from the breach data in the UK.

You can claim data protection breach compensation regardless of below:

• Lloyds Bank GDPR breach was intentional or due to human error;
• you were offered a free credit monitoring by the bank;
• you did not suffer from material losses due to personal data breach.

Check if your case is eligible for breach of confidentiality compensation. The medium data breach compensation amount can go as high as £5,000.

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DataClaim: how can we help to get your data breach compensation?

What is so special about DataClaim, and how we can help you?:

1. Our team possess substantial experience in the data privacy rights field and we have legal partners to help you get compensation your deserve.
2. We know all about Lloyds GDPR caseand how to get data breach compensation.
3. We can relieve you from unnecessary stress by helping to handle the entire process: from investigating Lloyds Banking Group data breaches to litigating in court, as feasible.
4. You are not exposed to financial risk since we work based on Success Fee (so no risk for you).

FAQ: more to know about data protection breach compensation

How to deal with a data protection breach?

Whenever you experience a data breach such as a cyber attack or bank breach of the Data Protection Act, you should contact the ICO (Information Commissioner's Office). This UK public body enforces data privacy rights.

You can as well get in touch with DataClaim. The company can manage your data breach claim and get privacy breach compensation for you at zero cost.

GDPR claims: is there a deadline to file?

Yes, you should submit a data breach claim within 6 years after the breach occurred. This is valid for all personal data breaches that happened at UK institutions. Even though you have a lot of time to ask for your GDPR compensation, we strongly advise you to file a claim as soon as it occurs.

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How much compensation for a data breach can I get?

It all depends on the gravity of the data breach. Usually, if your general personal data is compromised, you might seek up to £2,000 in compensation. You do not have to suffer a financial loss to get compensation. If sensitive information is exposed, such as financial or medical records, you can get GDPR breach compensation of up to £5,000 and up to £15,000 depending on the severity of the incident.

My personal information has been compromised: what to do?

If you have faced a personal data breach, get in touch with the Information Commissioner’s Office, the ICO. You can also contact the experts at DataClaim who can get your breach of data compensation free of charge.

Ready to submit your request to check if you have the right to compensation - up to £5,000?Yes, check my claim now