Charities and not-for-profit organisations are being advised to be on the lookout for potential charity fraud risks.
In an article issued as part of its last newswire, the Charity Commission warned that the likes of cybercrime and ‘insider fraud’ pose a real threat to charities that are not adequately equipped or prepared for such attacks.
According to recent figures published by the National Fraud Intelligence Bureau, 50 per cent of organisations have suffered at least one insider threat attack in the past year.
Perhaps worse still, 90 per cent of businesses feel that their organisation is vulnerable to suffering a potential cyber attack sparked by someone from within the company.
In light of these findings, the Charity Commission has been hard at work trying to warn charities and other organisations of the dangers of fraud and the classic warning signs to look out for.
Towards the end of October, more than 40 charities, regulators, representative bodies and other organisations took part in Charity Fraud Awareness week, which saw a series of important e-learning resources published on the Fraud Advisory Panel’s website, each geared towards educating not-for-profit organisations on how to combat fraud.
At the time, the panel reported that fraud was increasing “at an alarming rate” and that charities of all shapes and sizes needed to “protect their income and assets by building strong defences.”
Here at Moore Thompson, we are advising charities and other businesses to keep up-to-speed with the latest developments with regards to fraud and cyber security, to ensure that they stay safe.
Regularly-updated blogs on websites such as Action Fraud and the Fraud Advisory Panel are a great way of keeping track of the latest developments.