Counter Fraud Team Alert: Mandate Fraud

This is due to the company having their emails hacked in order to facilitate a change of bank request with the school.

Email hacking is becoming a prevalent method by fraudsters to committee mandate fraud.

The recommended cause of action is to ensure a verbal confirmation is done with the person or company requesting a change of bank account and this is embedded into your financial procedures.

If you think you have been a victim of mandate fraud contact your bank in the first instance to try and freeze the payment and start the recovery process.

Any attempts or actual losses for KCC maintained schools need to be reported to internal.audit@kent.gov.uk.

Academies should refer to the Academies Financial handbook on reporting these to the Department for Education.

You should also make your governing body aware and review your risk assessment on fraud and error to ensure mitigating controls are in place.