This is the problem. There is no case law to provide guidance as to the amount of compensation that should be paid. GDPR suggests that the Data Protection Commissioner could look for fines of "€10M or 2% of global turnover, which ever is greater" for "less serious breaches". And this is a serious breach. OP's solicitor is best placed to advise. Having said that, compensation in the low six figures may be appropriate given:
1) seriousness of the breach.
2) the new GDPR environment in which banks, and the rest of us, operate.
3) the possibility of systemic failings within BOI in relation to "data protection by design".
Ultimately, it will be up to the courts to decide on compensation. I suspect that if the OP were to instruct his/her solicitor to issue proceedings then BOI will fold before this gets publicly aired in court. BOI will not want to be a party to the establishment of case law on this one.
Having said that, compensation in the low six figures may be appropriate
Thanks TLO for your comments, The bank increased their compensation to a lot more than what was originally offered of 500e. However, It is still not enough to cover the loan that they provided and they disclosed. They disclosed the details of my loan to my neighbor, something I am not happy about and I have lost all trust in my bank. I think I will have to take this further and leave the sand Bank.
they allowed another random individual with the same name
To be clear, the 'random individual' was your neighbour, with the same name as you?They disclosed the details of my loan to my neighbor
However, It is still not enough to cover the loan that they provided and they disclosed.
There is nothing in law to suggest it should cover this. Where did you get that from?
Just to emphasise DeeKie's point, GDRP fines should not be confused with any compensation that may or may not be awarded in such breeches. The majority of breeches result in little or no compensation to the victims. You can review details of past GDPR fines on tracker sites such as . Here you'll see a broad range of fines, but many might be surprise you in how small some of them are. For example the German Knuddells chat site only being fined €20k for exposing the details of 330k users. That's 6c per user.
Is the OP expected his loan to be covered by compensation? If so, why exactly?
Really useful site. Thanks.. You can review details of past GDPR fines on tracker sites such as . Here you'll see a broad range of fines, but many might be surprise you in how small some of them are. For example the German Knuddells chat site only being fined €20k for exposing the details of 330k users. That's 6c per user.
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