Fraud Detection Procedures Sample Clauses
The Fraud Detection Procedures clause outlines the methods and responsibilities for identifying and responding to fraudulent activities within the scope of an agreement. Typically, this clause specifies the types of monitoring or audits that may be conducted, the reporting mechanisms for suspected fraud, and the steps parties must take if fraud is detected, such as notifying relevant authorities or suspending certain activities. Its core function is to establish a clear framework for preventing, detecting, and addressing fraud, thereby protecting the interests of all parties and minimizing potential losses or liabilities.
Fraud Detection Procedures. BNY Mellon shall establish procedures that are reasonably designed to detect fraudulent purchase, redemption and distribution checks (including fraudulent or forged endorsements and altered payment amounts); however, BNY Mellon shall have no liability for loss resulting from any fraud perpetrated or attempted to be perpetrated on the Fund, unless BNY Mellon has acted with willful misfeasance, bad faith, negligence or reckless disregard of its duties hereunder. Such procedures shall take into account the type of accounts involved, the sums involved and cost/benefit considerations.
Fraud Detection Procedures. Customer shall be responsible for any and all fraud associated with its usage of CALLING CARD Service, except as set forth below:
(1) All calling card calls will be validated by MCI WorldCom to permit only those calls authorized or facilitated by Customer or legitimate card holders. MCI WorldCom will, at the direction of Customer, preclude all calls utilizing expired or terminated calling card numbers compared against an authorized list provided by Customer and MCI WorldCom will be responsible for all fraudulent use, unauthorized use, misuse, or abuse of calling cards occurring after MCI WorldCom receives actual notice of the expiration or termination of a calling card or receives specifically detailed written notification concerning any card which has been lost, stolen, compromised or which Customer has reason to believe is or may be used fraudulently.
(2) In addition, all CALLING CARD Service calls will be monitored by MCI WorldCom for misuse on a twenty four (24) hour a day, seven (7) days a week basis. MCI WorldCom shall establish fraud prevention, detection and minimization procedures so that fraudulent use arising from lost or stolen calling cards and potential disruption to authorized card holders will be minimized.
(3) MCI WorldCom will not hold the Customer responsible for "Service Fraud" (as defined herein) associated with the unauthorized use of an MCI WorldCom CALLING CARD. For purposes of this Attachment, "SERVICE FRAUD" shall consist of unauthorized use of an MCI WorldCom CALLING CARD following the involuntary theft or loss of a card, which was not intentionally facilitated or authorized (either explicitly or implicitly) by Customer or an authorized user. Service Fraud often follows the theft of a wallet, purse or briefcase, or sometimes is the result of "shoulder surfing" (thieves observing/recording authorization codes) which occurs at payphones located in airports, bus terminals, train stations and the like. MCI WorldCom shall not be responsible for losses caused by fraudulent information submitted by a card holder in subscribing for calling card services or for usage which was intentionally facilitated or authorized (either explicitly or implicitly) by an authorized user.
(4) In the event MCI WorldCom is unable to contact Customer of suspected abuse of the CALLING CARD Service, in order to minimize potential abuse, MCI WorldCom may deactivate any calling card which has exceeded established fraud detection parameters or which MCI WorldCom ...
Fraud Detection Procedures. PFPC shall establish procedures that are reasonably designed to detect fraudulent purchase, redemption and distribution checks (including fraudulent or forged endorsements and altered payment amounts); however, PFPC shall have no liability for loss resulting from any fraud perpetrated or attempted to be perpetrated on the Fund, unless PFPC has acted with willful misfeasance, bad faith, negligence or reckless disregard of its duties hereunder. Such procedures shall take into account the type of accounts involved, the sums involved and cost/benefit considerations. PFPC shall not accept any third-party check (i.e., an investment check whose payee is other than the Fund or PFPC) except pursuant to Oral Instructions or Written Instructions.
Fraud Detection Procedures. Customer shall be responsible for any and all fraud associated with its usage of WORLDPHONE® Service, except as set forth below:
(1) All calling card calls will be validated by MCI to permit only those calls authorized or facilitated by Customer or legitimate cardholders. MCI will, at the direction of Customer, preclude all calls utilizing expired or terminated calling card numbers compared against an authorized list provided by Customer and MCI will be responsible for all fraudulent use, unauthorized use, misuse, or abuse of calling cards occurring after MCI receives actual notice of the expiration or termination of a calling card or receives specifically detailed written notification concerning any card which has been lost, stolen, compromised or which Customer has reason to believe is or may be used fraudulently.
(2) In addition, all WORLDPHONE® Service calls will be monitored by MCI for misuse on a twenty four (24) hour a day, seven (7) days a week basis. MCI shall establish fraud prevention, detection and minimization procedures so that fraudulent use arising from lost or stolen calling cards and potential disruption to authorized cardholders will be minimized.
(3) In the event MCl’s unable to contact Customer of suspected abuse of the WORLDPHONE® Service, in order to minimize potential abuse, MCI may deactivate any calling card which has exceeded established fraud detection parameters or which MCI has reason to believe is or may be used fraudulently. In such event MCI will have no liability to Customer or any End User in connection with such deactivation or failure to deactivate such calling card.