Is the Perfect Storm Brewing?
The perfect storm is brewing – is your nonprofit protected from the devastation of fraud?
Though the below nonprofit is a fictitious one, the scenario is very real, indeed. Could something like this happen at your nonprofit?
Town Square Humane Society
The receptionist at Town Square Humane Society took a call from a displeased vendor accusing the nonprofit of being delinquent in paying for electrical work completed at the society’s new shelter. The vendor gleaned just enough information to beef up an email to Finance requesting payment. The Finance group ran it through and paid the vendor. It wasn’t until a few weeks later, when the actual electrician called to request payment, that TSHS realized it had fallen victim to a fictitious vendor scheme.
As part of its 2016 Global Fraud Study, the Association of Certified Fraud Examiners found that 10.1 percent of fraud victim organizations were nonprofits that reported a median loss of $100,000.
The reality is, a perfect storm for fraud is currently brewing at most nonprofits. Is a storm brewing at your nonprofit organization? Find out how to tell if you’re at risk.
Download, “The Perfect Storm,” to discover:
- What combination of “events” could lead to the drastic aggravation of a situation at your nonprofit
- What’s at stake if your nonprofit organization falls victim to fraud
- How to mitigate fraud