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Survey Targets Fraudsters

30 September 2013

Media release

Survey Targets Fraudsters

Not-for-profit organisations are being asked to participate in a biennial survey of fraud in the sector to support ongoing efforts to prevent fraudsters targeting vulnerable organisations.

Launched in 2006, the BDO Not-for-Profit Fraud Survey is conducted every two years across New Zealand and Australian organisations.

The 2014 survey is now open for organisations to complete online.

BDO NFP Sector spokesman Bernard Lamusse says the survey is an important benchmark of perceptions and levels of fraud in the sector, examining specific incidences of fraud and what the sector is doing to prevent it.

“The past decade’s data has highlighted significant vulnerabilities in the sector along with identifying the most effective ways of managing the risk and in turn helping charities secure themselves against future fraud.

“The fact fraud levels have decreased since the survey’s inception in 2006 from 19% to 12% last year is testimony to its benefits.”

On the back of 2012 data, BDO ran a nationwide series of free workshops encouraging charities to review their fraud risk and implement management and prevention systems.

However, there is still a lot of complacency in the sector and a significant new area of risk is internet banking/electronic fraud which enables fraudsters to siphon off devastatingly large amounts of money very quickly.

“Our communities need non-profit organisations and non-profits need the financial support of their communities. It’s important they can demonstrate robust financial management to sustain that channel of public support.

“The more organisations which participate in this survey, the greater our insights will be and the more we can do to help expel fraudsters.”

Mr Lamusse says even if an organisation has never experienced a fraud, their approach to managing the risk could provide valuable insight to others in the sector.

This year’s survey had also been expanded to capture information about the management of business risk within the sector as risk management and fraud prevention “go hand in hand” says Mr Lamusse.

“Across the not-for-profit sector, many leaders are recognising that risks are no longer merely hazards to be avoided but, in many cases, opportunities to be embraced. They recognise that risk in itself is not a bad thing, but when it is mismanaged, misunderstood, mispriced or unintended it can lead to undesired consequences.”

The online survey can be completed by visiting www.bdo.co.nz. It closes on 31 October and a report of survey results will be released in February 2014.

ENDS

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