This week is Charity Fraud Awareness Week – bringing together charities and community groups to raise awareness and share best practice in tackling cybercrime and fraud.
We are passionate about cybersecurity and wanted to share our resources to help educate your staff and keep your charity safe.
Why are charities hit hard by fraud?
According to the Charity Commission, Charities have reported 645 acts of fraud or cybercrime since the start of the pandemic back in March. This has amounted to £3.6 million in total losses.
The Charity Commission believes that charities are particularly vulnerable to cyber-attacks due to:
- Remote working and blended-working as a result of COVID-19
- Virtual activities and sign-off processes
- A charity’s tendency to place ‘good will and trust in individuals’
What can be done?
Charity Commission research has found that 73% of charities affected by fraud go on to change their procedures or enhance internal controls. As well as this, two thirds of cyber-attacks are picked up by financial controls or audits.
This shows that implementing some simple checks and controls, together with a better understanding, can be key to stopping fraudsters.
How can BHIB Charities Insurance help?
We would like to direct you to our online resources to access free advice and guidance as well as information on our comprehensive insurance cover.
- A Guide to Cyber Insurance for Charities – here we have outlined tips for working from home as well as a real-life case of charity cybercrime, highlighting both the financial damage a cyber-attack can pose and how important it is to have adequate cyber cover in place.
- Cyber Insurance – protect your charity, voluntary organisation or community group from potentially costly and disruptive cyber-attacks with Cyber Insurance from BHIB Charities Insurance.
About BHIB Charities Insurance
BHIB Charities Insurance specialise in providing tailored cover for community groups, clubs, societies, voluntary organisations and hobby or special interest groups. We offer more than just insurance and we are passionate about supporting local communities.