Individual Fidelity Bond

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Individual Fidelity Bond

A bond or insurance policy covering a company in the event that it loses money as the result of theft or fraud by a particular employee. Individual fidelity bonds generally only cover situations in which an employee commits fraud for personal gain; they do not cover situations in which the employee, without support or knowledge of management, falsifies trading so that it makes the company appear healthier than it is. See also: Bonding, Operational Risk, Federal Bonding Program.
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