Posted by Peter Barretto on October 25, 2017
This week marks the second annual charity fraud awareness week which aims to raise awareness and help charities to combat fraud. The Fraud Advisory Panel have produced a supporters pack which can be found here.
Last year fraud cost the charity sector an estimated £2bn and 800 cases of fraud in charities were reported to the police. The Panel is encouraging charities to:
To keep #charityfraudout
A number of course and initiatives are ongoing for the week. More details can be found on the website here
The role of Trustees
It is important that Trustees understand their roles and responsibilities in relation to the detection and prevention of fraud within their charities.
The advisory Panel has 10 Questions which it recommends trustees should ask to ensure they are considering fraud appropriately:
By answering these questions, it should help you identify areas of weakness which can be mitigated.
What to do when things go wrong
In the aftermath of discovering a fraud, the next few steps can be critically important, so what should be done:
Clear and positive action can really help to minimise the impact of fraud on the charities beneficiaries and its reputation.
If you have any questions or concerns please feel free to contact your local Bishop Fleming representative.