Charities Must Pay More Attention to Fraud

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In the need-to-know column, this article from Reuters:

Rising mistrust of international charities and a public push for greater transparency on spending in corruption-prone crisis zones are compelling some non-government organizations (NGOs) to hire a new recruit—the criminal investigator. In a bid to prevent as well as report fraudulent activity, Plan International, Oxfam GB, Americares […]

As stewards of public funds, charities must pay careful attention to their financial resources. Because they are so mission-focused, and because nonprofit leaders tend to think the best of people, nonprofits are particularly open to fraud.

What should you do? Consider engaging an outside professional to perform a compliance review. You can’t prevent fraud, but you can reduce the likelihood and the impact.

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