To embed, copy and paste the code into your website or blog: A federal district court in Dallas, Texas has held that an insured's commercial crime policies were not triggered by a $6 million phishing loss where the insured did not "hold" the stolen funds. The case is The insured, RealPage, Inc. (RealPage), is a service provider for property owners and property management companies. RealPage used a third-party payment processor (Stripe) to facilitate collection of rental payments from its clients' tenants and then credit those funds to its clients' bank accounts. Pursuant to its contract with RealPage, Stripe would pull money from tenants' bank accounts and place them in Stripe's bank account. Upon instructions from RealPage, those funds—which had been commingled in Stripe's bank account with the funds of other Stripe customers—would then be transferred to RealPage's clients. RealPage had no rights to Stripe's bank account and could not withdraw funds from it.