According to the Fraud Advisory Panel’s ‘Charity Fraud Report 2023’, the prevalence and total fraud losses suffered by charities grew significantly year-on-year. Furthermore, charities said they expected to see a further increase in fraud in their sector over the next 12 months. Matthew Cole, CEO of Fuel Bank Foundation, said:
Fuel Bank Foundation Supports Charity Fraud Awareness Week
November 26, 2024
Charity fraud is on the rise. Every year, hundreds of charities in the UK fall foul of fraudsters.
"At Fuel Bank, we’re committed to ensuring that funding we receive only reaches those who need it most, which is why fraud prevention is one of our top priorities."
The Covid-19 pandemic and the cost-of-living crisis have given rise to even more fraudsters, quick to exploit the vulnerable for their own financial gain, be it through sophisticated online and telephone phishing scams or, on a larger scale, hacking, cyber security and ransomware attacks.
"We have processes and systems in place to identify and prioritise those in real need and spot fraudulent activity, working closely with our partner network to address any issues."
For charities, procurement fraud, payment diversion fraud, expenses fraud and donation and grant fraud continue to be a big issue.
With the risks of fraud constantly evolving, charities need to take steps to keep their money, people and data safe.
Now in its ninth year, Charity Fraud Awareness Week aims to raise awareness of the risks charities face and how to strengthen defences against fraud.
"We’re supporting Charity Fraud Awareness Week because if we’re to beat the fraudsters, the charity sector needs to work together to share information and best practice, as well as raise awareness."
For further information visit: https://preventcharityfraud.org.uk/awareness-week/
