Safeguarding the funding of your charity or non-for-profit is a vital part of your stewardship of the organisation. Having real control over your income streams, knowing where and when funds are being spent and protecting your charity’s brand are all essential tasks for CEOs, trustees, and management teams of not-for-profits.
But we live in a world where fraud and cybercrime are an increasingly dangerous risk, especially for charities.
Recent statistics released by the Charity Commission show that over 200 cases of fraud and 250 cases of theft are generally reported in the UK charity sector each year. And the impact of these crimes on your charity’s funding can be significant – reducing the social care you can deliver and damaging your brand in the eyes of potential donors, investors and fundraising partners.
So, how do you protect your charity and make your organisation less prone to fraud?