Newspoint

Newspoint is where we gather some of the most pertinent articles in the news and specialist media.

This page focuses on Fraud, Risk Management, Cybersecurity, and Data/ Information security. For Governance and Ethics articles please click here.

There is a link to the each article below below each commentary if you would like to read more.


Fraud

International Charity Fraud Awareness Week

It’s “Charity Fraud Awareness Week”, if you are a Trustee or Charity Leader this is a great opportunity to raise #fraudawareness, and check the anti-fraud controls in your charity are adequate. There is a lot of advice and help available – let’s Stop Fraud – Keep your charity safe. Please message me if you’d like some advice.

#charityfraudout #charityfinance#fraudprevention

Charities Fall Victim To Pandemic Fraud

Disturbing to hear that UK charities have been the victim of £3.6m of #Fraud and at least 645 #Cybercrimes since the outbreak of #covdi19. Greater #fraudawareness training, and #fraudcontrols are so important so that Charities are able to use the funds to support the vulnerable at a time when charity fundraising is so challenging. 

#CharityFraudAwarenessWeek #charityfinance

Covid Crimestoppers Fraud Hotline Launched

The launch of the Covid-19 Fraud Reporting Hotline is a great opportunity to tackle #Fraud as a result of the UK Government Schemes. Hotlines are the most common mechanism to discover fraud, the 2020 Association of Certified Fraud Examiners (ACFE) report to the Nations identified that 43% of Fraud was detected through hotline reporting.

It is important to identify Fraud, not only to stop criminality but also because the presence of Fraud is often an indicator underlying cultural weaknesses, poor 

#governance #ethicsandcompliance. #fraudprevention#covdi19 #fraudawareness

Insider Fraud Risk Increases Over Next 12 Months

Trustees and Senior Executives beware

With around 66% of fraud in charities being perpetrated by employees, trustees or volunteers; any reduction in staffing as a result of lower fundraising effects staff morale, reputation and the volume of work remaining employees have to do. All this dramatically increases #FraudRisk, loss of funds, and has negative #reputationalrisk . Robust internal controls are needed, trust is not enough. Begin with high #Fraudawareness. If you’d like to know more, please contact me.

#charities #covdi19 #fraudprevention

Fraudster steals £2.5m From Charities – Inheritance Gifts

As a Charity #Trustee, #NED or Executive do you understand the process for accepting bequests? Are the appropriate controls in place?

3 years since a solicitor was jailed for stealing £2.5m in 12 offences, the #Charities are still seeking the funds. Bequests can be one of the most significant forms of fundraising though the often limited number of people involved can create a poor segregation of duties and a higher #Fraud #Risk.

If you would like some advice or have concerns about the accuracy of these funds please contact me.

#charity #wills

Housing Charity Loses £100k From Insider Fraud

This kind of #Fraud thrives on the #Fraudster having an opportunity to commit the Fraud. #Charity #Trustees (#NEDS) and Executives to what extent are controls such as segregation of duties, staff role rotation, robust reconciliations and an ‘ask don’t assume #FraudAwareness culture in place in your organisation?

This kind of #Fraud thrives on the #Fraudster having an opportunity to commit the Fraud. #Charity #Trustees (#NEDS) and Executives to what extent are controls such as segregation of duties, staff role rotation, robust reconciliations and an ‘ask don’t assume #FraudAwareness culture in place in your organisation?

A simple control environment health check, which can be performed remotely, is a great way to identify fraud risks, gain assurance and highlight the importance of #fraudprevention.

Please contact me for a free discussion is you’d like to know more about how this could benefit your charity.

#CharityFraudWeek

More News Coming Soon….

Trustees and Senior Executives beware

With around 66% of fraud in charities being perpetrated by employees, trustees or volunteers; any reduction in staffing as a result of lower fundraising effects staff morale, reputation and the volume of work remaining employees have to do. All this dramatically increases #FraudRisk.

#charities #covdi19 #fraudprevention

More News Coming Soon….

As a Charity #Trustee, #NED or Executive do you understand the process for accepting bequests? Are the appropriate controls in place?

3 years since a solicitor was jailed for stealing £2.5m in 12 offences, the #Charities are still seeking the funds. Bequests can be one of the most significant forms of fundraising though the often limited number of people involved can create a poor segregation of duties and a higher #Fraud #Risk.

#charity #wills

More News Coming Soon….

This kind of #Fraud thrives on the #Fraudster having an opportunity to commit the Fraud. #Charity #Trustees (#NEDS) and Executives to what extent are controls such as segregation of duties, staff role rotation, robust reconciliations and an ‘ask don’t assume #FraudAwareness culture in place in your organisation?

A simple control environment health check, which can be performed remotely, #fraudprevention.

#CharityFraudWeek

Risk Management

Supply Chain Delay / Blockage – Need Customs Agents

An effective Supply Chain is the ‘lifeblood’ of any business that manufactures or supplies goods. A blockage or delay can stop production lines or clear shelves within hours or days. I’ve seen this happen and dealt with the response.

If you’re an Executive, Non-Executive Director or on the Risk Committee – how well do you know you’re supply chain? Is it mapped together with Supply Chain Risks? This is just one example of a potential blockage – a shortage of customs brokers.

If you’d like to know more about supply chain risk management or the risks that can effect business resilience both through and beyond #covid and #brexit please reach out to me.

#supplychain #risks #riskmanagement #businessresilience #nonexecutivedirectors #supplychainmanagement

One In Ten UK Charities Face Bankruptcy Within 6 Months

Startling news in the latest edition of “Enterprise Risk” magazine for #Charity #Trustees (#NEDS|) and Executives, with around 17,000 #Charities facing #Bankruptcy in the next 6 months. The majority will be smaller charities. Depending upon the legal structure the implications for Trustee liability could be huge. The impact on service users and causes is bleak.

Here are some questions to ask:

-Have you carried out a #governance review the charity?

-Are the reserves adequate to cover debts and enable a controlled closure?

– Is there a clear business plan for the next 12 months that shows estimated income and expenditure?

-Does the #Board fully understand the #Risks faced by the charity?

-Has effective #Contingencyplanning been undertaken?

-Is your #Board operating effectively?

If you’d like to know more, please ask.

More News Coming Soon….


Pan-fried sole in butter and served with brown butter sauce, parsley and lemon

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60 days aged rib steak, pepper sauce, fondant potatoes
$31.00

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Roasted duck breast with crispy skin and velvety citrus sauce
$26.50

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With goat’s cheese, rocket and baby shoot salad
$22.00


Information & Cyber-Security

Lessons From An Email Scam

There has been a large increase in the number of email #scams , personally we can all take action to avoid being a victim of them, we also need to ensure that #itsecurity#awareness is raised in organisations.

These can be a way into an organisation to extract valuable data, commit fraud or ransom attacks.

If an iT user (employee/volunteer) opens such an email either in a company or personal email address and clicks the link they could be downloading malware or ransom-ware.

Questions to ask:
1) Are #itsecurity policies clear and communicated?
2) Are users aware of the risk and the what they should do if they see such an email?
3) Are firewalls and PC configuration settings adequate to manage such a risk.
4) Is antivirus and security software up to date?
5) Are data backup and restoration policies adequate and tested?
6) Have #businessinterruption plans and #ransomwareattack response plans been developed and tested?

Please don’t click the button on the email! Don’t be scammed!

For reference the key give away for this scam are:

– the email address (if you hover over it)
– email header.
– no vehicle registration number given
– no location or photo given
– listing an out of order telephone number.

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Delicate crêpe in buttery, orange sauce; served flambé
$13.00

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Multi-layer praline and chocolate cake with caramel cream cheese
$12.00

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Sticky caramel sauce with apples, served with whipped cream
$12.00

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zesty lemon tang, creamy custard and topped with meringue
$12.00

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Blueberries, strawberries, raspberries, plums and passion fruit
$28.00


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