Wire Transfer Theft Covered Under Computer Fraud Policy Clause, Judge Rules

Mealey's (July 25, 2017, 1:28 PM EDT) -- NEW YORK — A firm’s loss due to a fraudulent wire transfer scheme constituted computer fraud even though the thief used email spoofing rather than hacking into the company’s system, a New York federal judge ruled July 21, finding that coverage for the multimillion dollar loss existed under the computer fraud provision of the company’s executive protection insurance policy (Medidata Solutions Inc. v. Federal Insurance Co., No. 1:15-cv-00907, S.D. N.Y.)....