Know what you are protected against.
True protection requires clarity. We define exactly what constitutes a covered fraud event so there are no surprises when you need to make a claim.
Covered scenarios
MoneyGuard provides protection and potential reimbursement for losses resulting directly from the following events:
Impersonation & Social Engineering
You are manipulated into transferring money by someone pretending to be a trusted entity (bank staff, police, trusted organisation).
Phishing & Fake Links
You enter your banking credentials into a fraudulent website or app designed to mimic a legitimate service.
Credential Compromise
Your login details are stolen through data breaches or malicious interception without your knowledge.
Malicious Software
Malware or spyware on your device enables fraudsters to initiate transactions or steal authentication codes.
Account Takeover
A fraudster gains unauthorised access to your digital finance account and moves money out.
SIM-Swap Related Fraud
Your phone number is hijacked to intercept OTPs and authentication calls to authorise fraudulent transfers.
Phone Theft
Your physical device is stolen while unlocked, or the thief observes your PIN before stealing it to access banking apps.
Unsafe Network Conditions
Credentials are intercepted over compromised public Wi-Fi networks.
Clear boundaries protect everyone
To maintain a sustainable protection pool, certain scenarios fall outside the scope of MoneyGuard's coverage. These exclusions are governed strictly.
- Gross negligence (ignoring explicit, contextual warnings provided by MoneyGuard)
- Commercial disputes (paying for goods that were not delivered as described)
- Losses occurring before MoneyGuard was activated on the device
- Investment scams where the user authorised funds to an investment platform
- Bank-side system compromise or failure (a breach, outage or error in your bank's or payment provider's own systems)
- First-party fraud (where the account holder is complicit)
Before you activate
Coverage requires users to maintain baseline security hygiene. To be eligible for protection, you must ensure:
- Your device has a screen lock (PIN, biometric, or password) enabled.
- Your banking app credentials are not stored in plain text on the device.
- You do not jailbreak or root your mobile device.
- Report suspected fraud promptly through the designated channel.
What governs your cover
This page is a plain-language summary, not the policy. Where anything here differs from the MoneyGuard terms of service or the underlying insurance policy, those documents apply.
Coverage limits, deductibles and any co-payment depend on your plan or on your provider's implementation. Eligibility, reporting requirements and exclusions are set out in those documents.
Coverage may be updated from time to time in accordance with applicable policy terms, regulatory requirements and notice provisions. The terms in force when the incident occurs will apply.
Target eligibility decisions within 48 hours for at least 80% of reported incidents. Reimbursement applies to fraud losses eligible under the applicable cover and is subject to cover limits, exclusions and policy terms. The seven-day period begins when the fraud incident is reported through the designated reporting channel.
