Posco Daewoo Not Covered For Transfer Fraud, Judge Rules

By Jeff Sistrunk ( November 1, 2017, 10:53 PM EDT) -- Travelers doesn't have to cover importer-exporter Posco Daewoo America Corp.'s losses to a fraudulent scheme that caused a customer to wire payments to sham bank accounts, a New Jersey federal judge ruled Tuesday, finding that Daewoo didn't own the funds as required for computer fraud coverage under its crime policy....

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