Funds Transfer Fraud definition

Funds Transfer Fraud means the loss of Money or Securities contained in a Transfer Account at a Financial Institution resulting from fraudulent written, electronic, telegraphic, cable, teletype or telephone instructions by a third party issued to a Financial Institution directing such institution to transfer, pay or deliver Money or Securities from any account maintained by the Insured Organisation at such institution, without the Insured Organisation’s knowledge or consent. Funds Transfer Fraud will not include any loss arising out of:

Funds Transfer Fraud means Theft of Money or Securities from any of the Insureds' Transfer Accounts at a Financial Institution and occurring through Fraudulent Transfer Instructions communicated to such Financial Institution.

Funds Transfer Fraud means the unlawful taking of Funds from an account held by the Insured with a Financial Institution following and as a result of a fraudulent electronic, telegraphic, verified facsimile, telephone or handwritten instruction to the Financial Institution to debit the Insured’s account and to transfer, pay or deliver Money or Securities from the Insured’s account which instruction purports to have been transmitted or purports to have been issued by the Insured but was, in fact, fraudulently transmitted or fraudulently issued, forged or altered by a Third Party.

Examples of Funds Transfer Fraud in a sentence

• Fidelity Bond/Crime Insurance Fidelity Bond/Crime Insurance 50% of the Value of this Contract Crime Insurance, in the form of either a Commercial Crime Policy or Financial Institution Bond, providing coverage for Employee Dishonesty, On Premises, In Transit (Theft Disappearance and Destruction Coverage Form and Robbery and Safe Burglary Coverage Form), Forgery/Alteration, Computer and Funds Transfer Fraud shall be carried for fifty percent (50%) of the value of this Contract.

• The Underwriter shall pay the Insured for direct loss of Money or Securities sustained by an Insured resulting from Funds Transfer Fraud committed by a Third Party.

• The Insurer will pay the Insured Entity for its direct loss of Money or Securities, directly caused by Funds Transfer Fraud that is Discovered during the Policy Period.

• Any Cyber Breach Event, Cyber-extortion Threat or Ransomware, System Failure, Dependent Business Interruption, Dependent System Failure, Social Engineering Fraud, Funds Transfer Fraud, Utility Fraud or Invoice Manipulation.

• Advertiser’s Liability MCN 639021 National Casualty Company Limit of Liability: $1,000,000 $50,000 9/30/2008 9/30/2009 $3,907 (PC) Crime Insurance 6804-8927 Chubb Employee Dishonesty Forgery Alterations Money & Security on Premises Money & Security – Messenger Computer Fraud Funds Transfer Fraud $5,000,000 $75,000 12/2/2008 9/30/2009 $16,705 $5,000,000 $75,000 $500,000 $5,000 $500,000 $5,000 $5,000,000 $50,000 $5,000,000 $75,000 Umbrella Liability – Lead AUC59152 4403 American Guarantee & Liability Ins.

More Definitions of Funds Transfer Fraud

Funds Transfer Fraud means fraudulent written, electronic, telegraphic, cable, teletype or telephone instructions issued to a financial institution directing such institution to transfer, pay or deliver Money or Securities from any account maintained by an Insured Organization at such institution, without an Insured Organization’s knowledge or consent.

Funds Transfer Fraud means any of the following acts, carried out by means other than through the intentional misleading of a person by means of a dishonest misrepresentation of a material fact contained or conveyed within an electronic or telephonic communication(s) and relied upon by a person believing it to be genuine:

Funds Transfer Fraud means an intentional, unauthorised and fraudulent instruction transmitted by electronic means to a Financial Institution directing such institution to debit an account and to transfer, pay or deliver Money or Securities from such account, which instruction purports to have been transmitted by the Insured Organisation, but was in fact transmitted by someone other than an Employee without the Insured Organisation’s knowledge or consent.

Funds Transfer Fraud means fraudulent written, electronic, telegraphic, cable, teletype or telephone instructions issued to a financial institution directing such institution to transfer, pay or deliver “Money” or “Securities” from any account maintained by “You” at such institution, without “Your” knowledge or consent.

Funds Transfer Fraud means the criminal and intentional deprivation of the Insured’s funds resulting directly from Fraudulent Instructions given to a financial institution to transfer, pay or deliver funds of the Insured from a Bank Account.

Funds Transfer Fraud means fraudulent written, electronic, telegraphic, cable, teletype or telephone instructions issued to a financial institution directing such institution to transfer, pay or deliver Money or Securities from any account maintained by the Insured at such institution, without the Insured's knowledge or consent. Funds Transfer Fraud shall not include a Forgery.

Funds Transfer Fraud means Theft of Money or Securities from any of the Insureds' Transfer Accounts at a Financial Institution and occurring through Fraudulent Transfer Instructions communicated to such Financial Institution. J. Insured shall mean the Company. K. Investigative Expenses means reasonable expenses incurred and paid by an Insured in establishing the existence and amount of any direct loss covered under an Insuring Agreement within this Coverage Part. The reasonableness of such expenses shall be determined by the Insurer and shall not include anyInsured's internal corporate obligations such as Employee wages or any other internal costs. L. Messenger means an Insured, any of the Insured's partners or members or any Employee while having care and custody of property outside the Premises. M. Money means currency, coins and bank notes in current use and having a face value and travelers checks, register checks and money orders held for sale to the general public. N. Occurrence means: