What is Funds Transfer Fraud Cover | Insurance glossary by upcover

This cover applies when criminals trick a business or hack systems to transfer money illegally. For instance, if a scammer hacks a company’s online banking and wires funds out, the policy reimburses the stolen amount (subject to limits). Linked term: see Invoice Manipulation Cover. Why it matters: It safeguards cashflow and business stability after digital theft.

Related Terms

Cybercrime & Fraud Cover (Business Pack)

Electronic Data Recovery (Business Pack)

Data Breach Cover (Business Pack)

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Related Term

Cybercrime & Fraud Cover (Business Pack)

Electronic Data Recovery (Business Pack)

Data Breach Cover (Business Pack)

All Category

Financial

Legal

Insurance Documents

Fundraising

Employment

Policy

Risk Management

E&O

D&O

Commercial Insurance

Cyber

Compliance

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