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Intro

Data breaches have become an increasingly common occurrence, exposing sensitive personal information to potential harm. While companies are responsible for safeguarding user data, individuals may be entitled to compensation if their personal information has been compromised in a data breach.

Whether you have been directly impacted or are simply seeking more information, this guide will equip you with the knowledge you need to understand your rights and explore potential avenues for compensation.

Key Takeaways:

  • Data breaches can result in significant financial and emotional distress, and individuals may be entitled to compensation for the harm they have suffered.
  • There are various legal avenues for pursuing data breach compensation, including individual lawsuits and class action lawsuits.
  • The amount of compensation awarded in data breach cases can vary depending on the specific circumstances of the breach and the impact on the affected individuals.
  • Whether you were affected or are just exploring options, you can check your eligibility for compensation.

Data Breach Compensation Explained

Data breaches often result in settlements, which are agreements between the affected parties to avoid the expense and uncertainty of a court trial. Victims may receive compensation for damages, including out-of-pocket expenses like credit monitoring. Businesses involved in breaches can use settlements to minimize negative publicity and potential financial losses.

The amount of compensation you can expect to receive in a data breach case can vary depending on the specific circumstances of the breach and its impact on the affected individuals. If you think you may be eligible for compensation from a data breach, our calculator can help you explore your options. However, some common factors courts consider when determining compensation include:

  • The type of information that was compromised,
  • The number of people affected by the breach, 
  • How long the information was exposed for,
  • And the extent of the harm caused. 

If you have suffered financial losses or other harm as a result of a data breach, you are more likely to receive a higher level of compensation.

In some cases, victims of data breaches may also be eligible for reimbursement for out-of-pocket expenses, such as identity theft protection services and credit monitoring.

Real-Life Examples of Data Breach Settlements

A number of examples of data breach settlements have been reached in recent years. Here are a few notable examples.

In 2018, Equifax agreed to pay $700 million to settle a class action lawsuit over a data breach that exposed the personal information of over 147 million Americans.

In 2019, Facebook agreed to pay $5 billion to settle a Federal Trade Commission (FTC) lawsuit over a data breach that exposed the personal information of over 87 million Americans.

In 2020, Marriott agreed to pay $2.425 billion to settle a class action lawsuit over a data breach that exposed the personal information of over 383 million guests.

These are just a few examples, and the amount of compensation you can expect to receive in a data breach case will vary depending on the specific circumstances of your case.

It’s common for large-scale data breaches to result in compensation for affected individuals. The exact settlement amount may vary based on factors like the user’s location and the extent of the data breach.

How long does it take to resolve a data breach lawsuit?

The amount of time it takes to resolve a data breach lawsuit can vary depending on a number of factors, including the complexity of the case and the speed with which the defendant cooperates. However, it is important to note that data breach lawsuits can often take years to resolve.

Is there any compensation for data breach?

It’s common for large-scale data leaks to result in compensation for affected individuals. The exact data breach settlement amount may vary based on factors like the user’s location and the extent of the data breach.

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Are you missing out on other data breach payouts? Try our compensation calculator and find out now!

Am I Affected?

If you were affected, you should receive a data breach notification letter within 72 hours of its discovery. But, there have already been cases when these notices don’t get sent out at all, either as part of a cover-up to protect the company’s image or to avoid identifying users who might be entitled to compensation. So in case of a data leak, it’s a smart move to fill out the form and join the claim regardless. 

What To Do?

Whether you believe you were affected or are just exploring your options, you can quickly and easily check your eligibility and compensation amount with our quick data breach checker. In under two minutes, you’ll know how much money you can get and will be able to claim compensation. Give it a try!

Data Breach Compensation vs. Others

Data breach compensation is known by various names, which can make things confusing. Some of these names mean the same thing, while others are a bit different. We explain and compare these terms below.

Data Breaches Examples

Check out these real-world examples to get a more practical understanding of how data breaches work and what we can learn from these examples.

Conclusion

When your sensitive data gets leaked, it’s essential to understand your rights and the potential for compensation. Companies responsible for data breaches can be held accountable for the harm they cause. This might include financial losses, the cost of protective measures like credit monitoring, and even compensation for emotional distress.

Always remember that you can come back to this article by saving it in your browser so as not to forget any step that will bring you closer to obtaining compensation in exchange for the leak of your data. You can also use our compensation calculator to get a better understanding of your potential claim.

question | Data breach compensation

Are you missing out on other data breach payouts? Try our compensation calculator and find out now!

Frequently Asked Questions

How to minimize or prevent Data breach impact?

Using virtual payment cards with spending limits and unique email addresses for different services can greatly reduce the risks of data breaches. Disposable virtual cards protect your financial details, while custom email addresses (like “yourname+service@gmail.com”) help identify compromised services. These strategies add security layers, minimizing the impact of breaches on your personal and financial data.

What to do after a data breach?

In case of a data breach, promptly change your passwords on the affected accounts, making them strong and unique. Activate two-factor authentication for added security. Monitor your financial statements and credit reports for any unusual activity. Alert your bank or credit card provider about potential fraud. Be cautious of phishing scams following the breach and consider a credit freeze. Finally, report the incident to the appropriate authorities.

What is a Data breach notice?

A data breach notice is an official alert sent by an organization to individuals whose personal data, including potentially compromised passwords, may have been exposed in a security breach. Such a notice can often follow warnings from services like Apple or Google indicating that “this password appeared in a data leak.” It details the nature of the breach, affected data types, potential risks, and the organization’s remedial actions. The notice advises on protective measures, such as changing passwords and monitoring credit reports to mitigate harm.

Can I sue, and how to join a class action lawsuit?

Yes, you can sue for a data breach. With Remunzo, joining an active class action lawsuit is easy. Check your eligibility on our platform, and if your case is active, you can join the lawsuit. Remunzo handles all legal proceedings and negotiations for a settlement. These processes can take some time, but we keep you updated throughout. Use our Quick Data Leak Checker to see if you qualify to join and claim compensation.

When will I get paid the data breach settlement?

The time it takes to receive a data breach settlement payment varies, often taking several months after a settlement is reached. Factors like case complexity, number of claimants, and legal procedures affect the timeline. Remunzo will keep you informed about the settlement progress, but patience is key as these processes can be lengthy.

Sources

  1. Heiligenstein MX. TikTok Data breaches: Full timeline through 2023 [Internet]. Firewall Times. 2023. Available from: https://firewalltimes.com/tiktok-data-breach-timeline/
  2. Federal Trade Commission (FTC). Data breach resources [Internet]. FTC.gov. 2024. Available from: https://www.ftc.gov/data-breach-resources
  3. National Association of Consumer Advocates (NACA). [Internet]. NACA.org. 2024. Available from: https://www.consumeradvocates.org/
  4. American Bar Association (ABA). ABA says hackers took lawyer’s data in March attack [Internet]. Reuters. 21 Apr 2023. Available from: https://www.reuters.com/legal/litigation/aba-says-hackers-took-lawyers-data-march-attack-2023-04-21/
  5. Privacy Rights Clearinghouse (PRC). Categories of data breaches [Internet]. Privacyrights.org. 2024. Available from: https://privacyrights.org/categories/data-breaches

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    Our team counts over 80+ skilled lawyers from 8 countries and has many partner law firms working on your claims. You can trust us to take good care of your claims. We’re working to make a world where taking big companies to court is simple and just a few clicks away for everyone, no matter their budget, skills, or background. Our goal is to build a future where it’s easy for everyone to stand up for their rights and get justice.