Sadly, fraud is not just an external threat for care and charity businesses – there is a risk of ‘insider fraud’ to consider, too.
While you may picture a cyber-criminal threatening your charity as a hooded hacker from the outside world, the unfortunate reality is that it’s quite common for a cyber-attack to occur from someone within, also known as insider fraud.
Over 50 per cent of charities suffered an insider threat attack this past year, according to recent research from the National Fraud Intelligence Bureau. This form of fraud has the potential to cause greater consequences, seeing as insiders typically have deeper knowledge of the organisation’s inner workings, including how to access data.
Use this guidance to prevent insider fraud within your charity:
• Restrict access to sensitive files so that only relevant, trusted staff members can see the documents. Consider using encryption as well.
• Closely monitor staff activity when using IT systems.
• Establish clear policies regarding fraud and make sure your staff is aware of them. Report any fraud incidents to Action Fraud and the Charity Commission.
For additional government information on preventing fraud, click here.
Protect yourself against cybercrime with Bollington
Bollington can protect care or charity organisations with cyber liability insurances. While prevention is always better than cure, it is worth considering how insurance can help to protect you against certain online threats.
For further information on cyber insurance, contact Bollington’s care team in the first instance on 01625 348029 or visit www.bollington.com/cybercrime for an overview of some of the threats we can help to protect you against with our insurance.