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 AIG Australia > For Businesses > Management Liabilities > Financial > FinancialGuard™ Comprehensive Crime
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What is it?
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Cover for fraud, dishonesty of employees, theft, forgery and electronic crime.
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Why do you need it?
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Financial Institutions continue to be an attractive target for fraudsters. These
frauds are becoming more sophisticated by the day and combine with traditional risks
to heighten the exposures faced by business
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The AIG Australia Comprehensive Crime Insurance policy is a policy tailored to financial
institutions to counter these risks and address the complex exposures faced by todays
organisations.
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Who needs it?
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Financial Institutions
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Case Studies
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Payroll Fraud
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An ex employee who had worked as the Payroll Manager at the Australian headquarters
of an overseas based global financial institution was found to have committed embezzlement
against the Australian subsidiary over a period of 5 years. Investigations revealed
that the ex-employee embezzled a significant amount of money through numerous credit
transactions. The ex-employee carried out these transactions involving a third party
administrator to whom the payroll function had been outsourced, and subsequently
manipulated the accounting system to attempt to cover the fraud.
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Find out more
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 Comp Crime Insert.
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Comp Crime Summary.
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Contact us
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