When a data breach happens, it would seem reasonable to file a claim. The fact that the breach actually happened is what doesn’t make sense. About 700 million Americans’ records were compromised in 2024 alone. This is a staggering sum.
More than 5.5 billion data breaches took place worldwide in 2024, which is eight times more than the 730 million that were reported in 2023. When these are broken down to their most basic components, it is therefore not unexpected that over 18 accounts are compromised every second.
An international assertion on statistical data
The occurrence of data breaches is a global phenomena rather than being exclusive to the United States. China topped the list of countries with the most data breaches in 2024, with an incredible 939.5 million. Russia, with 921 million, came in second that year. In that particular year, the United States was ranked third highest. Conversely, the UK has some intriguing numbers.
They only came in at number nine globally in 2024. That particular year, however, saw a 14-fold increase in data breaches, reaching 57 million. There is plenty to be concerned about with these numbers. especially considering that most information is now shared digitally. Companies all around the world are still expected to put in place a suitable system to guarantee that their users have the protection they need.
The LoanDepot data leak scandal that plagued the company
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LoanDepot, a nonbank holding company, offers mortgage loans to eligible lenders in the US. Refinancing possibilities, adjustable and fixed-rate mortgages, and jumbo loans are all part of the diverse product offering. Customers generally give the business very excellent feedback, and they specifically highlight how quickly they close deals. About 27,000 clients per month would be covered by the service level capacity.
The business was recently a party to a class action lawsuit settlement. This concerns a data breach that took place between January 3 and January 5, 2024. A $25 million settlement has been agreed to by loanDepot. The reason for this is their purported inability to adequately safeguard people’s personal data during the data breach.
Make a claim for eligibility in this case.
In this case, a class member is any of the 16.9 million people who have received notifications that their personally identifiable information (PII) has been hacked. Claims may be made for up to $5,000. Here is how to lodge a claim:
a cash payout ranging from $5,30 to $70,71, contingent on the number of legitimate claims submitted.
Two years of financial surveillance and identity theft insurance services, totalling $12.95 a month.
up to $5,000 in recompense for losses directly attributable to the breach and for verified financial outlays.
Residents of California are entitled to an extra payment of $14,90 to $74,52, with a $150 per person cap.
You can use the online portal to file claims in this case. The settlement administrator may also be contacted directly by mail with claim forms.
Additionally, the website provides a comprehensive list of the documents that must be included with the claim form. Class members can pay with PayPal, Venmo, a prepaid card that will be mailed to the specified email address, or by mail cheque.
No later than May 27, 2025, claims may be submitted. On August 18, 2025, the final approval hearing has been set. The appropriate settlement agreement states that payment will start within 30 days if the final approval is given, some other issues are taken care of, and all appeals are settled.
The administration of this settlement can be contacted directly with any questions. You may learn how to submit a claim and find out more about this settlement by going to Top Class Actions.
