A devastating experience for this person: ecstatic to land a dream job as CEO of a charity, to then discover an internal fraud and have his time absorbed by unraveling it and rectifying internal controls to help prevent any future frauds, sadly leaving him traumatised and bitter.
Thank you to anonymous for sharing your story and how you turned the controls around. Great to hear that business donors were supportive and often shared their own experiences.
This story demonstrates the importance of having counter fraud measures in place, being fraud alert, taking action, sharing experiences and supporting each other to fight fraud.
Our external accountants asked whether I had managed to recoup monies on an invoice that, by fluke, they noticed Sharon had paid twice two years before. They had raised it with her at the time and were just following up. To my horror we found that Sharon had paid the second amount to herself by cheque with the forged signature of the previous CEO. The evidence was irrefutable. We immediately initiated an investigation on suspicion of gross misconduct. It was a shattering experience. We looked at every single transaction going back years. We found Sharon had repeatedly stolen thousands of pounds by writing cheques to herself. She had fabricated expenses and pocketed the petty cash. I also suspected that she had pilfered takings from donation boxes and envelopes but had no proof.