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Posted by:

Glyn Sheldon

Article read time:

1 minutes

Glyn joined CFG in July 2024 as a Communications Officer.

He has communications experience working for the NHS in the North East, before going on to work in Sydney after spending some time travelling across Asia and Australia.

Glyn previously studied at Newcastle University, receiving a BA in Politics and an MA in Media & Journalism.

He also recently qualified as a Mental Health First Aider.

Fraud

20 December 2024, 16:29

New Charity Commission fraud guidance

The Charity Commission for England and Wales has produced updated guidance for charities on how to protect themselves against fraud.

The regulator also announced that it opened 603 cases relating to fraud and a further 99 cases relating to cyber crime issues in the last year. The recently released BDO Charity Fraud Report 2024 also found that 42% of charities have experienced a case of fraud in the past year, with 84% suffering a financial loss as a result.

The Charity Commission published bespoke guidance on how trustees can protect their charity from cyber crime and a separate shorter guide on fraud.

The fraud guide provides guidance on responding to instances of fraud or attempted fraud within a charitable organisation and offers preventative measures to mitigate the risk of fraud. It underscores the importance of robust internal financial controls, something CFG highlighted in an article featuring a story from Sharon Martin, Chief Financial Officer at the Born Free Foundation.

The Commission’s guidance states that cyber fraud, particularly phishing attacks, poses a significant threat to charities that handle financial and personal data. The Commission’s casework has identified phishing as the most common form of cyber-enabled fraud experienced by charities.

Both guides stress the significance of reporting all instances of attempted fraud, even unsuccessful ones, to Action Fraud. Fraud is frequently underreported, as many individuals are reluctant to report incidents. Reporting enables trustees to obtain the support they need and helps to build a more accurate picture of how fraud is affecting the sector.

Resources

Inside job: Understanding and preventing insider fraud

Press release: Regulator refreshes guidance as it reveals 600 cases related to fraud in the last year

Protect your charity from cyber crime

Protect your charity from fraud

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Knowledge Hub

Glyn Sheldon

1 minutes

New Charity Commission fraud guidance

Resources

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