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Alert for charities – watch out for CEO fraud

The Chairty commission has published an alert to charity trustees, employees and volunteers to help prevent CEO fraud.

CEO fraud involves the impersonation of a senior figure (usually the Chief Executive Officer) with subsequent requests for transfers of funds. Action Fraud, the UK’s national fraud reporting centre, have reported an increase in this type of fraud.

The most recent reports have involved targeting of schools where fraudsters have falsely claimed to be the head teacher or principal.

The Charity Commission has published an alert for charities warning them about an increase in people impersonating senior figures to make fraudulent requests for money.

CEO fraud involves the impersonation of this senior figure, usually the chief executive, who then makes subsequent requests for the transfers of funds. Action Fraud, the UK’s national fraud reporting centre, has reported an increase in this type of fraud. The Charity Commission said that most recent reports of this type of fraud has involved targeting of schools where fraudsters have falsely claimed to be the head teacher or principal. The regulator has advised charities to look out for requests to their finance department or staff with authority to transfer funds, usually from a “spoofed or similar email address to that of the subject being impersonated”. – See more at:

https://www.gov.uk/government/news/alert-for-charities-watch-out-for-ceo-fraud?utm_source=b81391e3-3053-40ed-ab68-bd403fe731a5&utm_medium=email&utm_campaign=govuk-notifications&utm_content=immediate

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