UK Charity the Victim of Internal Fraud

Posted on January 2, 2016

Rebecca Cooney of the UK's Third Sector monthly magazine recently reported a story about a charity worker named Scott Golding who recently pled guilty to dishonestly depriving a charity of more than £260,000 (over $530,000 Canadian dollars) leaving the charity virtually penniless.  Scott Golding was sentenced to 4 years 8 months in prison.  This is his second conviction involving occupational fraud.  The Crown alleges that Golding used his middle name while working at the charity as an alias and spent the fraudulently obtained funds on designer goods and rent. 

This case demonstrates how a single insider can effectively destroy a business enterprise, in this case an international charity.  As is often the case in small business, a single position in the organization is tasked with a number of duties which are best and properly segregated among numerous distinct employees.  Trust is high and oversight is far too lean. Such is the nature of a small business with tight margins. These and other red flags are often best detected by a certified fraud examiner who brings a fresh set of eyes, an expertise, and a desire to help business protect itself from employees like Mr. Golding. 

If you think your small organization might be vulnerable or has been a victim to occupational fraud, contact Clarium Fraud and Compliance Solutions today.

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