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What are the implications of a data breach?

On Behalf of | May 6, 2022 | Litigation |

Anyone who has been victimized by a data breach knows that these breaches cause a lot of damage to their lives and finances.

Recently, the Chicago accounting firm Bansley & Kiener LLP announced that a breach of its customers’ data occurred in December of 2020. Our firm is investigating this case. If you have had your data breached, it is important to seek legal counsel as soon as possible.

Financial and personal costs of a data breach

If you have had your data breached, you could experience:

  • Immediate loss of income: This is the most obvious impact of a breach. When someone accesses your personal information, it usually means that can use your credit card numbers and other important pieces of information to make purchases and transfer funds, all out of your pocket.
  • Possible credit damage: It is even possible in some instances for a breaching party to obtain lines of credit using the victim’s personal information. Of course, if you are not making regular payments on these lines of credit, your credit score will be negatively affected.
  • Information updating: In addition to the directly financial problems above, you will also need to update all your personal information. According to Center For Internet Security online, a data breach often requires the individual victim to change passwords frequently and monitor data.
  • Ongoing data monitoring: After a data breach, it is critical to continue monitoring your data in an ongoing way, to avoid further breach. Often, the parties who breached information in the first place, retain enough of that information to commit another breach in the future, even after passwords have been changed.

These are a few of the most important damages and challenges you could face after a data breach.

Fight back aggressively

Make sure you fight back aggressively against any type of data breach and obtain the compensation you deserve for the financial and personal challenges you have suffered.