CRIME PROTECTION PLUS
Fraudulent Inducement Supplement
This is a supplement to the Philadelphia Insurance Companies Crime Protection Plus Application
Name of Applicant:
1. Are all employees who are responsible for authorizing and/or sending wire transfers or other
payments provided periodic anti-fraud t
raining concerning fraudulent inducement/social
engineering, phishing, masquerading and other fraud schemes?
Yes No
2. Does the Applicant make payments to third parties via a wire transfer system? Yes No
If yes, describe the frequency of such payments.
3. Is there a limit on the number or total dollar amount of electronic funds transfers one employee
can approve during a specified time period?
Yes No
If yes, what are the limits and in what time interval?
4. Is dual authorization required for any payments or funds transfers over a certain amount? Yes No
If yes, what is the amount? $
5. Does the Applicant confirm all change requests regarding vendor account information (including
routing numbers, account numbers, telephone numbers, and contact information) by a direct call
to the
vendor using only the contact number previously provided by the vendor before the
change request was received?
Yes No
If yes, does the Applicant confirm these change requests with an individual at the vendor other
than the individual who requested the change?
Yes No
6. Does the Applicant have procedures in place to verify the authenticity of any payment requests
received from a vendor?
Yes No
7. Does the Applicant verify the receipt of goods, inventory, or services against an invoice prior to
making any payments to a vendor?
Yes No
8. Does the Applicant accept funds transfer instructions from Clients over the telephone, email, text
message or similar method of communication?
Yes No
If yes, describe the method used to authenticate the instructions prior to complying with such
instructions.
9. Does the Applicant have procedures in place to verify the authenticity of all Clients? Yes No
10. Does the Applicant confirm all payment or funds transfer instructions made by a Client by a direct
call to the Client using only the telephone number provided by the Client before the payment or
funds transfer request was received?
Yes No
11. Does the Applicant have procedures in place to verify the authenticity of any payment or funds
transfer request received by an authorized employee from an internal company source (e.g. a
supervisor, subsidiary, or different department)?
Yes No
a. If yes, please describe the procedures:
b. Do these payments or funds transfers require the approval of a supervisor of the employee
who received the request?
Yes No
12. Has the Applicant sustained any Fraudulent Inducement/Social Engineering Fraud related losses
during the past 3 years?
Yes No
If yes, please advise the total amount of the loss, provide a description of the event, and explain
any corrective action implemented.
To enter more information, please use the separate page attached to the application.
I understand information submitted herein becomes a part of my Philadelphia Insurance Companies
Crime Protection Plus Application and is subject to the same conditions as stated on the application.
Name (Please Print) Title (Must be signed by a Principal, Partner or Officer)
Signature Date
Crime Protection Plus
Fraudulent Inducement Supplement
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© 2017 Philadelphia Consolidated Holding Corp.
