Charity Sector

There are over 160,00 registered charities in England & Wales representing causes from aid, education, welfare, professional institutions, religious bodies, arts, research, housing and many more.

Fighting fraud for Charities

Charities are becoming increasingly vulnerable to fraud with data suggesting potential losses into the billions every year. Although on average individual losses tend to be lower than in other industries, not- for -profits have been hit hard by Covid-19 and every penny lost is detrimental to the cause.

In an industry where fraud is most likely to be committed by insider fraud, charities are also facing greater risks from cybercrime, procurement fraud and financial statement fraud.

A recent report from the Fraud Advisory Panel recognised over two thirds of charities (69%) think fraud is a major risk to the charity sector, however less than 10% have a fraud training programs and overall awareness remains low.

To find out how we can help please give us a call or email us.

0121 796 4020

hello@tenetlaw.co.uk

Our expertise

Having recently advised a large group of finance directors on the threat of identity fraud and wider fraud threats, our focus for charities is an awareness of threats and the solutions available to reduce risk.

We have experience in advising clients in this sector on identifying and reducing their risks to fraud through assisting on investigations and in litigation.

We understand it can be difficult for charities to identify and manage the risks against fraud, especially with a large number of employees and a wide external network. However, larger organisations often have the most to lose and need to consider the importance of protecting their reputation in the unfortunate event they are targeted by or fall victim to financial crime.