can you sue a bank for allowing identity theft

Box 740241 Atlanta, GA 30374-0241 To order your report: 1-800-685-111 To report fraud: 1-800-525-6285 TDD: 1-800-255-0056www.equifax.com, TransUnionFraud Victim Assistance P.O. A similar lawsuit was filed against Wells Fargo in the U.S. District Court for the Southern District of Texas. In this post we will answer the question, How do I sue for identity theft?. Identity Theft.gov The federal government's 1-stop resource for victims. Filing a report with a local police department; Alerting their banks, credit card companies, and other financial or government institutions; Requesting financial or other affected accounts be cancelled or closed; and. To learn more about how our attorneys may be able to help you, please fill out ourno cost case review formtoday. Additionally, if the victim is a business, they can also request that fraud alerts be put on their business accounts and if their name or trademarks were tampered with, they can contact the Secretary of State to amend their filings. However, organizations like banks, credit bureaus, and other businesses may have played a part in the crime. You may be able to sue for negligence, fraud, breach of fiduciary duty, invasion of privacy, conversation, breach of contract, emotional distress and other legal theories under state statute. As noted above, all inquiries are protected by the attorney client privilege and kept confidential. The Lyon Firm is actively involved in class action personal privacy and data theft cases and is currently investigating Hatch Bank data breach claims for plaintiffs nationwide.. Reporting the incident to the Federal Trade Commission (FTC). If your credit card is lost or stolen, let the card company know right away to prevent losses from occurring. Banks and credit card issuers that process fraudulent transactions can be sued if it is shown they owe a duty of care to the victim. An Illinois district court has allowed a couple to sue their bank on the novel grounds that . Juvenile Court Proceedings: How It Differs from Adult Court. If you've been the victim of identity theft and are wondering if you can file a civil lawsuit, it's a good idea to contact a personal injury attorney who can review the facts of your case to determine who you may have a claim against and what legal theories may apply to your specific situation. This will allow you to discuss what your rights are, identify the parties you could sue, what you could recover, and whether you have a supportable case. What Is the Best and Most Secure Alternative to LifeLock? Both state and federal laws prescribe rules regulating the relationship between a bank and its clients. Unfortunately, some of the great advancements in technology we have enjoyed over the past four decades, have been abused for malicious purposes. Compensation for Violations of the EFTA. That simply isnt true and is why you need an experienced identity theft lawyer to assist you in recovering back your money. Our attorneys have a history of success helping consumers restore their good names, reputation, and credit after their identities were stolen. All of the above companies have admitted to being the victims of large scale data breaches. All rights reserved. You need to notify the institution of the fraudulent transactions so that it can open an investigation. Considering the negative effects of being the victim of identity theft, most victims want punitive damages and compensatory damages for the emotional and financial ordeal they are put through. If the company is a government contractor and the hacked data potentially includes government data, there are rewards available under the False Claims Act. 2023 Fair Credit, LLC, All Rights Reserved. Althoughidentity theftcan occur without using the internet, it does make this crime easier to commit. Lets say you have bank accounts and credit cards at both Capital One and Chase, you stayed at a Marriott while on a business trip, visited a small retailer who process credit card payments through Heartland Payment Systems and bought some clothes at Target. It can take a significant amount of time to remove the reports of fraudulently obtained credit from your credit bureau report. I wish I didnt have to hire an attorney but my family and I were blessed. Fla. 2015), Mrs. Ginder, an 81 year old woman, deposited her life savings into various Bank of America accounts. Identity theft is a form of fraud that happens when an individual uses someone else's personal information (name, social security number, credit card number, etc.) While in law school, her law journal note was selected for first-round publishing, and can be found on various legal research databases. Services Law, Real The message says theres something wrong with Its Cyber Security Awareness month, so the tricks scammers use to steal our personal information are on our minds. This is essential to ensure you are not held liable for any fraudulent charges. On the site, you can report and put together a plan to recover from identity theft. Follow up in writing. This law created a new offense of identity theft, which prohibits knowingly transfer[ring] or us[ing], without lawful authority, a means of identification of another person with the intent to commit, or to aid or abet, any unlawful activity that constitutes a violation of Federal law, or that constitutes a felony under any applicable State or local law. 18 U.S.C. The real deep pockets in large identity theft cases are the banks or holders of the data. Alert every financial institution where you have accounts of any kind. A federal law known as Gramm-Leach-Bliley Act (GBLA) regulates how banks may handle consumer information. American Bar Associations pro bono directory. If theres one constant among scammers, its that theyre always coming up with new schemes, like the Google Voice verification scam. Different financial institutions may have different procedures in place for dealing with identity theft lawsuits. Change direct deposits that are linked to your compromised accounts. If your case is successful, you may be able to recover compensation for your financial losses, restore your reputation, and reestablish your credit score. Identity Cloning:Identity cloning refers to all forms of identity theft in one; the thief literally takes over the other individuals identity, in every aspect of their life. Today identity thieves share their information on the dark web. Injunctive relief is often critical in identity theft cases. Law Practice, Attorney A credit report can help identify irregularities that could indicate this form of identity theft. Learn about getting and using credit, borrowing money, and managing debt. Zander vs LifeLock: What's the Difference? Merchants who process credit card transactions. Look over your records about the debt and any information you may have gotten from the collector . Companies like Equifax, Experian, and Transunion offer alerts about suspicious activity in your credit reports and also offer credit freezes or fraud alert settings. For instance, if while they are in a public place they give out information over the phone, such as their credit card or social security number, a criminal can easily overhear it and write down the information to use later. That can include a court order declaring that are not legally responsible for debts created in your or your business name. Please. Receiving unfamiliar bills in the mail or not receiving regular bills/mail, Unauthorized transactions on your financial statements, Receiving calls from fraud departments for suspicious activity, Unauthorized purchases or changes to your online accounts, Unfamiliar activity on your credit reports, Calls or letters from debt collectors for unfamiliar debt, Medical claims denied or being billed for services you didn't receive, You cannot file income taxes because you have supposedly already filed, Receiving notification that your information was compromised in a data breach, meaning you are at risk for identity theft. File Report with the Federal Trade Commission (FTC). How to protect your personal information and privacy, stay safe online, and help your kids do the same. If your bank contributed to the identity theft, you may potentially sue. Depending on the specifics of your case, the amount you can sue for, and potentially receive, will vary. With more financial transactions occurring over the telephone and Internet, it is easier than ever for thieves to steal your identity. If youre a victim of credit reporting/background check errors, or debt collection harassment, its time to take a stand. Often you won't know until a credit card app, security app, or credit report alerts you that a social security number, credit card number, or sensitive personal information was stolen. Cases accepted nationwide. Obtaining a Patent: Everything You Need To Know, *If you are having any difficulty accessing your account, please contact us at, 2018 Identity Fraud: Fraud Enter a New Era of Complexity, creditors, collection agencies, and credit reporting companies, contact a local attorney as soon as possible, Disclaimer and a note about Find a Lawyer and Legal Advice . Law, About This site is protected by Trying to build a case independently could have complications that could harm the outcome of your case. How Should I Respond To a Debt Collection Lawsuit? If you suffered anxiety you may be able to get compensation as well. Close each account that has been compromised. If the civil lawsuit is successful, the victim could potentially recover: The Fair Credit Reporting Act (FCRA) also allows victims to request creditors and debtors stop reporting on the fraudulent accounts. We'll upload confirmation documents to your task for you to view, and if the contacts need more information, they will reach out to you personally via email or mail. The fourth step is to contact an experienced attorney to help you understand your rights and legal options. Look no further than Paige Thompson, the person arrested in the Capital One data breach during the summer of 2019. You may even be able to resolve the debt by responding or showing up in court because some collectors would rather settle than go through extended litigation. A defendant who is convicted of identity theft may receive any of the following penalties: Imprisonment; Fines; Probation; Restitution; Conversion; Punishment for any related crimes (e.g., mail or credit card fraud); and. LegalMatch, Market Your creditor may ask to see a copy of the report to remove the fraudulent debts. The questions, though, are whether you can win such a suit and what you would get by winning. As is evident from the above discussion, recovering from identity theft is a very complex process. Beyond the criminal penalties that may be imposed on the criminal who steals your identity; you may initiate civil proceedings against 3rd party entities. After that, you should consider if a consumer protection attorney can help you pursue a case. When applying for new credit, the banks are responsible for verifying the ID of any individual making the application. Can You Sue a Bank for Allowing Identity Theft? Sit back and relax while we do the work. The FTC and its law enforcement partners announced actions against several income scams that conned people out of hundreds of millions of dollars by falsely telling them they could make a lot of money. ZIP What to know when you're looking for a job or more education, or considering a money-making opportunity or investment. Lawyers who handle identity theft matters will be familiar with both federal and state laws, causes of action, and the overall process required to potentially reach a successful resolution.