The ongoing pandemic has strained many not-for-profit
organizations, forcing them to cut corners to survive. But fraud
prevention is one critical area that organizations cannot afford to
overlook. If anything, antifraud measures are more important now
than ever.
VULNERABILITIES OF NOT-FOR-PROFIT ORGANIZATIONS
The Association of Certified Fraud Examiners' (ACFE)
recent study, Report to the Nations: 2020 Global Study on
Occupational Fraud and Abuse, notes that not-for-profit
organizations can be more susceptible to fraud than for-profit
businesses. Even in normal circumstances, not-for-profit
organizations typically have fewer resources available to help
prevent and recover from a fraud loss.
