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National Bank believed it had been properly authorized to transfer $250,000 to the off-shore account ...

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National Bank believed it had been properly authorized to transfer $250,000 to the off-shore account ...

National Bank believed it had been properly authorized to transfer $250,000 to the off-shore account of one of its corporate customers. The authorization was fraudulent, however, and the transferred funds were stolen. Under which commercial crime coverage insuring agreement would such a loss be covered?
A) Money Orders and Counterfeit Currency
B) Forgery or Alteration
C) Outside the Premises
D) Funds Transfer Fraud

Textbook

Principles of Risk Management and Insurance

Edition: 12^th

Authors: Rejda, McNamara

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