Key Exclusions
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| Employment Fraud | Any losses arising from you transferring funds in hopes of securing any full-time, part-time or temporary employment, ad hoc jobs or ad hoc tasks |
Confidence or Romance Fraud | Where someone befriends you and forms a personal connection with you, or pretends to be interested in a romantic relationship with you and convinces you to transfer money to them. |
Investments Fraud | Any losses arising from You transferring funds in hopes of receiving money back without any items or services received |
Wrongful Transfer | Any loss resulting from any mistaken or accidental transfer of funds to an incorrect account, including but not limited to a personal bank account, a merchant business account, and etc. |
Physical loss of electronic device(s) | Unauthorised transaction(s) resulting from the loss or theft of your electronic device(s) connected to your PayLah! account. |
MobileWallet Protect covers financial losses from your PayLah! account resulting from incidents such as:
- Social Engineering - If you are tricked into transferring money from your PayLah! account to someone impersonating to be a trusted person or entity.
- Account Takeover - Unauthorised transfer if a third party gains access to your PayLah! account.
(a) Any losses arising from you transferring funds in hopes of receiving money back without any items or services received.
(b) Any losses arising from you transferring funds in hopes of securing any full-time, part-time or temporary employment, ad hoc jobs or ad hoc tasks.
(c) Confidence or romance scams, where someone befriends you and forms a personal connection with you, or pretends to be interested in a romantic relationship with you and convinces you to transfer money to them
An Account Takeover incident means an incident where a third party gains unauthorised access to your PayLah! account and makes unauthorised transactions. By way of example, an Account Takeover Incident usually occurs as a result of phishing, malware phishing and pharming, or other similar scams.
Specific exclusions for Account Takeover
(a) Unauthorised transactions resulting from the loss or theft of your electronic devices connected to your PayLah! account.
(b) Unauthorised transactions more than two (2) weeks prior to your first reporting of the incident to the police.
(c) PayLah! transactions made or authorised by you or your authorised user which have been authenticated via One Time Password (OTP), PIN, password, biometric security and/or any similar online and mobile banking security services.
Please see below for some of the key exclusions of your policy:
- Any losses which are recoverable and/or have been recovered from any other sources such as, but not limited to, your bank and/or your telecommunication company;
- Any transactions made by your Household, or by a person you have permitted to use your PayLah! account;
- Any transactions not made through your PayLah! account;
- Mass Cyber-Attack;
- Any loss resulting from gambling, lottery, contest, promotional game, or other games of chance;
- Any loss resulting from illegal activity engaged in by you;
- Any loss arising directly or indirectly from digital or virtual currency, including but not limited to cryptocurrency, whether regulated or unregulated.
All benefits and coverages are subject to the terms and conditions of the Policy. Please refer to the Policy Wording for the full insuring clauses, definitions, schedule, extensions, terms, conditions, exclusions, and limits of liability of the Policy.
(a) Report the losses to your bank as soon as possible to mitigate the losses and take the rectification steps within 24 hours of the discovery of the incident.
(b) Report the losses to the Police with events leading up to the loss of funds within 24 hours of the discovery of the incident.
(c) File a claim for the losses with Chubb with the supporting documents within 14 days from the incident occurrence leading up to the claim.
