Unauthorized Transfer

Unauthorized Transfer

The illegal transfer of funds without permission from the person or company who owns the funds. Unauthorized transfers can be fairly basic; for example, one may steal and use a debit card. Often, however, unauthorized transfers involve using computer programs to find a person's financial information and conduct large transactions with that person's money. The person who owns the funds is responsible for the loss of the first $50 if he/she informs the bank within 60 days. Otherwise, he/she is responsible for the first $500. See also: Identity theft.
References in periodicals archive ?
In the Philippines, Tria said that the most alarming and advanced cybersecurity threats can come in forms of data exfiltration and data corruption, unauthorized transfer of data to a foreign network, and tampering and/or sabotage of data.
Even the smallest unauthorized transfer can be a danger sign.
The Public Prosecution in Ras Al Khaimah leveled charges of illegal trespass into UAE's territorial waters, the unauthorized transfer and sale of flammable materials, and missing identification papers.
Relying partially on the Ninth Circuit's interpretation of Pestmaster's coverage to require an unauthorized transfer of funds, the Fifth Circuit remarked that, in this case, the "computer use" was an email with instructions to change a vendor's payment information.
Certainly, the statute allows some limitations on the refund obligation imposed on banks; [section] 670.204(1) eliminates interest to the customer on the refund amount if the customer fails to exercise ordinary care to discover the unauthorized transfer and to notify the bank of the relevant facts within a reasonable time not exceeding 90 days after the customer received notice of the transfer.
The Security Council backed that deal with a resolution that said in the event of non-compliance, "including unauthorized transfer of chemical weapons, or any use of chemical weapons by anyone" in Syria, it would impose measures under Chapter 7 of the U.N.
They faced charges of lack of candor, misrepresentation and unauthorized transfer of control, among others.
cleared Tan of any knowledge, involvement or participation in the unauthorized transfer to RCBC of funds stolen from Bangladesh Bank.
It said that the accused Abdul Ghaffar was one of the beneficiaries of the illegal and unauthorized transfer of funds from the bank accounts of M/s IGI Finex Securities Pvt Ltd maintained at MCB Bank.
The accused Abdul Ghaffar was one of the beneficiaries of the illegal and unauthorized transfer for funds from the bank accounts of M/s IGI Finex Securitas Pvt Ltd maintained at MCB Bank.
Resolution 2118 said the Council "decides, in the event of non-compliance with this resolution, including unauthorized transfer of chemical weapons, or any use of chemical weapons by anyone in the Syrian Arab Republic, to impose measures under Chapter VII of the United Nations Charter." The June 30 deadline to complete the elimination of all CW material and equipment "in the first half of 2014" was set by the OPCW Executive Council Decision last September 27, and endorsed by the Security Council the same day.
But according to the report, "UNIFIL has neither been provided with, nor found, evidence of the unauthorized transfer of arms into its area of operations."