It pays to think through the risks of fraud in your business and to ensure you’ve got the right protection in place. Crime/ Fraud protection protects your business from losses that are a direct result of employee or third party dishonesty like business fraud and employee fraud.

What is Fraud Risk Cover?
Fraud Risk Cover protects your business against the risks of internal or external fraud. We work with you to assess your fraud risks. In case of fraud, you are covered for the associated financial losses.
There are two types of Fraud Risk
- Internal Fraud is perpetrated by one or more of your staff members.
- External Fraud involves the theft of money, equipment assets or stock by persons outside the business.

What is internal fraud?
Internal fraud is perpetrated by one or more of your members of staff.
Common examples of internal fraud include:
- Payment of false invoices to a personal bank account
- Theft of office equipment
- Purchasing inappropriate business gifts
- Using company funds to buy goods for personal use

This type of fraud is very common. Procedures in many businesses are often based on trust and internal control systems may not yet be sufficiently robust. Losses can severely affect the financial health and standing of the business.

What is external fraud?
External fraud involves the theft of money or stock by persons outside the business.
Examples of external fraud include:
- Identity theft: most commonly, of the CEO and CFO
- Falsifying invoice details (altering the payee’s account number)
- Falsifying order details, so that goods are delivered to the wrong destination
- Impersonating a person’s voice or forging their signature
- Falsification of emails
With the latest generation of fraudsters, the number of external fraud cases has exploded in recent years. Our operational advice helps you to protect your business against fraud. Your policy covers you against internal and external fraud. Subscribing to fraud risk cover limits your exposure to direct and indirect financial losses. If you are victim of fraud, our team of specialists will take charge of the situation and provide you with bespoke assistance.