As more and more charities fall victim to cybercrime, the Charity Finance Group (CFG) has launched a free guide to help the sector tackle online fraudsters and prevent digital disasters before they can happen.
The group says now is an “excellent” time for organisations to reassess their work on preventing fraud.
The guide will help small charities understand what fraud is, outline the steps they need to protect themselves against fraud, highlight what “tell-tale” signs to look out for, and know what do once they have detected them.
A checklist has been published alongside the guide, designed to help charities establish their counter-fraud policy. It includes ten essential questions that all charities should be thinking about when working to tackle fraud.
In 2016, the Annual Fraud Indicator estimated that the cost of fraud to the UK economy was £193 billion. In the charity sector, it cost an estimated £1.9 billion. This is roughly 5.6 per cent of all expenditure lost to fraud.
John Flatley, from the Office for National Statistics, said: “In the past, burglary and theft of vehicles were the high-volume crimes driving trends but their numbers have fallen substantially since then.
“When the crime survey started [35 years ago], fraud was not considered a significant threat and the internet had yet to be invented.
“[These] figures demonstrate how crime has changed, with fraud now the most commonly experienced offence.”