US American Tooling Center Mar 2015 Social Engineering (Q16873)
From Open Risk Data
A data breach risk event
| Language | Label | Description | Also known as |
|---|---|---|---|
| English |
US American Tooling Center Mar 2015 Social Engineering
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A data breach risk event
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Statements
f1dfe4a0-9047-11e8-8b32-9bc4732308c2
March 2015
0 references
a federal appeals court has sided with a commercial policyholder where the insurer denied coverage under a computer fraud provision of a crime insurance policy for a money transfer involving fraudulent emails. The Sixth Circuit appeals court found that Travelers was wrong to deny the claim of American Tooling Center, a Michigan tool-and-die company that wired $800,000 in funds to a fraudsters account in the belief the account belonged to one of its Chinese subcontractors. (English)
