Unauthorized Transaction
/ˌʌnˈɔːθəˌraɪzd trænˈzækʃən/
Definitions
- (n.) A financial or commercial transaction conducted without the explicit permission or consent of the account holder or authorized party.
The bank reversed the charges after detecting an unauthorized transaction on her credit card.
- (n.) Any act involving transfer or use of funds, property, or rights that occurs without legal authority or approval.
He was liable for unauthorized transactions made from the corporate account without board approval.
Forms
- unauthorized transaction
- unauthorized transactions
Related terms
See also
Commentary
In drafting, specify the scope of 'unauthorized' to include consent thresholds and institutional policies, and clarify whether it covers both fraudulent and simply unapproved acts.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.