Your client sends you an email asking you to change her banking information. You should trust the client, right?
Even the most secure organization with stringent controls and safeguards can fall victim to a resourceful fraudster. Criminals are getting smarter and employing clever tactics to trick employees into voluntarily giving away money or securities. This common scheme is called Social Engineering Fraud - someone poses as a trusted vendor, client, or employee to steal money from an organization.
This real threat might not be covered by your current Crime policy. The purpose of this scheme is to get the employee to voluntarily give money to the fraudster. Many crime policies do not cover voluntary actions by your employees. That's why Chubb and other insurance companies are now offering a Social Engineering Fraud endorsement to add coverage for this type of fraud to their Crime policy.