Funds Transfer Fraud Coverage

Funds Transfer Fraud (also known as “cyber crime fraud”) occurs when a malicious actor obtains a company’s legitimate usernames, passwords, or other banking information and uses those credentials to transfer money out of a target account—often before the victim realizes what’s happened and the funds are gone.

Hackers commonly use malware to steal credentials or send phishing emails designed to trick recipients into providing login or financial details. Take a moment to watch the short video below by ProWriters, Marsh’s cyber insurance experts, and discover practical steps to detect, prevent, and respond to funds transfer fraud.