Every year for the past decade, the Not-for-profit (NFP) sector has been voted the most trusted in the world – but just how valid is that ranking when it comes to the ‘F’ word (fraud) and corruption? The sector itself remains highly vulnerable, as it is almost completely reliant on developing and maintaining a high level of public and donor trust. Despite this, there continues to be an explained complacency when it comes to the topic of fraud. More
According to the UNDP, funds lost to corruption in the Global South are 10 times the amount of official development assistance (ODA), while the World Bank estimates that each year between 20% and 40% of ODA itself is “stolen” by public officials. It does not end here though, as its pervasiveness and magnitude – when combined with the risks inherent to the non-profit sector – has now reached the point where corruption is perverting NGO’s missions. At stake here is the accountability and credibility of the sector as a whole. But are its leaders up to the challenge?