BDO not-for-profit fraud survey 2012

9 Feb 2012

Funds lost through online fraud in the not-for-profit sector is at an all-time high, with fraudulent online transactions resulting in almost 40 per cent of the total value of sector fraud reported.

The BDO Not-For-Profit Fraud Survey 2012 is the fourth biennial BDO Not-For-Profit survey, building on the knowledge and experience gained from the 2006, 2008 and 2010 surveys.

The results of this year’s survey, combined with the information from previous surveys, provides an important benchmark for not-for-profit organisations by revealing the perception and level of fraud in the sector, examining specific incidences of fraud, and highlighting the measures the sector is using to prevent fraud.

Further key findings include:

  • 12% of respondent organisations suffered fraud
  • 25% of respondents who experienced fraud believe it is still undetected
  • The most common type of fraud reported was cash theft (40%)
  • The average online payment fraud was $370,000
  • The average duration of each fraud was 14.5 months
  • A typical fraudster was a female aged in her forties and was a paid employee in a non-accounting role
  • Only 9% of frauds were committed by volunteers
  • Tip offs (34%) and internal controls (33%) were the most effective ways of discovering fraud.

Downloading this survey requires filling out a short form on their website.

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