From Civil Society
Charities reported fraud losses of almost £8m last year, according to figures released by the UK’s national reporting centre, Action Fraud. Accountancy firm RSM obtained the figures through a freedom of information request to Action Fraud, finding that charities submitted 1,057 reports of fraud totalling £7.85m in the year to March 2019. This means the average amount lost per fraud case reported during the year was £7,428.
Employee fraud accounted for the highest level of fraud losses (£1.68m), followed by abuse of a position of trust (£1.63m) and mandate fraud (£1.23m).
Mandate fraud, which is when an employee is tricked into switching a regular payment to a fraudster’s account, was responsible for the highest number of identified complaints (173), followed by employee fraud (95) and hacking (62)