By Fraud Advisory Panel
For nine years the Fraud Advisory Panel has worked alongside the Charity Commission and partners from across the private and public sector in bringing together fraud experts to share best practice and expertise to enhance charities fraud defences.
Charity Fraud Awareness Week 2024 is focussing on turning nine years of learning into actionable steps for charities to easily adopt. Several key themes have emerged that have the potential to transform a charities approach fraud prevention.
We Are Stronger Together
Charities are more resilient when we collaborate. Building connections with other charities in your community can strengthen your defences. Much like using Excel, where someone has often already created a formula for your problem, many charities have faced the same challenges and developed solutions. By learning from others, you can expand your awareness and prevention strategies against fraud.
Action:
Join a community of charities committed to combating fraud. Whether it’s through LinkedIn, personal networks, or our Charities Against Fraud group, connecting with others will empower you to share knowledge and strategies. Contact us to learn more about joining this supportive network.
Fraud Will Happen
Nine years ago, the idea that charities could fall victim to fraud was met with disbelief. The term “fraud” had to be used cautiously, and the notion that charities were targeted seemed far-fetched. Fast forward to today: our annual survey with BDO saw a record number of participants and our London conference was fully booked in just two weeks and for the second year running events will be held in Scotland and Northern Ireland.
The charity sector has made incredible progress in recognising the reality of fraud risks. The message is clear: finding fraud is not inherently bad. In fact, it’s often a sign of diligence. Fraud is prolific with about 50% of all reported crime in England and Wales is fraud and it is vastly underreported. This year’s survey revealed that around 40% of participating charities experienced a fraud or attempted fraud. The reality is, no matter how noble your mission or small your organisation, fraud is likely to happen.
Action:
Don’t panic. It’s natural to feel overwhelmed but having a Fraud Risk Management Plan is an inherently positive step. If you don’t already have one, start today. This plan will guide you, your staff, and your volunteers through the process of addressing fraud calmly and effectively and what to do to both mitigate and respond.
Together, we can continue to learn, act, and protect our sector from fraud. Let’s turn lessons into action!