The Latest / Data Security News
October 31, 2019
New research has shown that charities can be subjected to hacks, attacks and fraud at an alarming rate. Fraudsters don’t care who they attack so charities are not safe from such harm: no one is in 2019.
The need for better stronger cyber security in the sector was highlighted in this month’s international Charity Fraud Awareness Week. Some of the most interesting data came from a study carried out by the UK’s Charity Commission. The report said:
“Research suggests the cost to the sector is likely to be hundreds of millions, potentially billions, of pounds each year. The strong ethos of trust common to charities can make them more susceptible to fraud than similar size public or private sector organizations.”
In fact, two-thirds of charities said they considered fraud to pay a major risk in their sector. Worryingly, some 85 percent said they felt they were doing everything they could to stop fraud, yet at the same time, less than 9 percent had carried out fraud awareness training for their staff. A clear case of a mismatch between perception and reality.
Charities should not consider themselves safe from any kind of fraud or cyber security threats – even those from insiders. Unfortunately, there are plenty of people who will seek to cheat and attack all kinds of organizations.
Just like any other organization, cyber security issues can be hugely damaging to charities. It can cost them greatly financially, but also do enormous damage to their reputation and future ability to raise funds. Some 24 percent of the organizations in the survey who had suffered fraud said it had resulted in reputational damage.
Taking strong cyber security measures to protect against fraud is vital for today’s charities and sadly, the biggest threat they face comes from insiders. People within the organization abuse the greater levels of trust and goodwill inherent in the sector to fraudulently steal money from their own systems.
Charity organizations need solutions that give them far greater control of what the users inside their systems can access or manipulate. Global Data Sentinel’s systems are built around an identity management platform which lets organizations implement that kind of control through strong encryption.
Equally important to the Global Data Sentinel solution – and to those organizations trying to prevent fraud – is the built-in automatic auditing process. With Global Data Sentinel, organizations can keep track of every user’s activity within their system. Any underhand tactics or fraud becomes much easier to spot in the first place, as well as very easy to investigate.
All organizations need security solutions of the highest standards if they want to reduce cyber threats. Charities are certainly not exempt from that requirement – unfortunately no organization is, whatever their size, type or location in the world.