Charity Commission warns of fraudsters posing as chief executives

The regulator has warned charities that there has been an increase in a type of fraud in which people pretend to be the chief and request a transfer of funds

Beware emails purporting to be from the boss
Beware emails purporting to be from the boss

Charities are being urged to be on their guard against fraudsters pretending to be their chief executive.

The Charity Commission issued an alert yesterday amid concerns that confidence tricksters are impersonating senior managers to request transfers of funds.

A commission statement said: "Action Fraud, the UK’s national fraud reporting centre, has reported an increase in this type of fraud."

It warned that fraudsters can set up a spoof email account similar to that of the person being impersonated and ask for money to be transferred.

Criminals call a charity pretending to be the chief executive, sometimes when the latter is on leave. A second call by someone posing as a lawyer or regulator might follow.

The commission has advised charities to review their internal procedures for requesting and improving transactions, check email addresses and telephone numbers and be wary of posting sensitive personal information that could be used by fraudsters.

Anyone falling victim to this type of fraud should log a serious incident with the commission and report it to Action Fraud, the regulator added.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in
Follow us on:
  • Facebook
  • LinkedIn
  • Twitter
  • Google +

Latest Charity Finance Jobs

RSS Feed

Third Sector Insight

Sponsored webcasts, surveys and expert reports from Third Sector partners

Markel

Expert Hub

Insurance advice from Markel

Safeguarding in the Third Sector

Safeguarding in the Third Sector

Partner Content: Presented By Markel

Safeguarding - the process of making sure that children and vulnerable adults are protected from harm - is a big concern for organisations in the third sector.