The COVID-19 pandemic presented several and significant challenges for many Atlanta nonprofit organizations. The stay-at-home orders combined with social distancing rules not only impacted daily operations, the ability to deliver programs and services, but also had a devastating impact on revenue generation. In-person fundraisers, annual events, award programs, and more, which generate needed funds were scrapped requiring many to heavily rely on online efforts. In other words, nonprofits struggled. This reality makes fraud losses at a nonprofit so bitter knowing that needed resources have been stolen. The amount of loss arising from fraud can be devastating. According to the 2020 ACFE Report to the Nations, the median, per incident, nonprofit fraud loss was $76,000. This number highlights the importance of fraud prevention and the related savings potential. To help clients, prospects, and others, Wilson Lewis has provided a summary of the key survey findings below.
About the Report
The report was conducted online to Certified Fraud Examiners globally between July and September 2019. Participants were presented with 77 questions regarding details of the fraud case including information about the perpetrator, victim organization, methods of fraud employed, and trends in general. There was a total of 7,516 total responses received but only 2,504 were usable for purposes of the report.
Key Survey Findings
Contact Us
The reality is that fraud prevention can never be guaranteed, but by applying the report findings management and the Board of Directors can make serious strides forward. If you have questions about the information outlined above, suspect fraud may be occurring, or need assistance with another issue, Wilson Lewis can help. For additional information call us at 770-476-1004 or click here to contact us. We look forward to speaking with you soon.
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