I) Increasing Scrutiny of Fraud, Embezzlement, and Charitable Asset Diversion in the Nonprofit Sector -
A) The Washington Post’s Investigation, “Inside the Hidden World of Thefts, Scams and Phantom Purchases at the Nation’s Nonprofits”:
On October 26, 2013, the Washington Post reported that from 2008 through 2012, over 1,000 nonprofit organizations disclosed hundreds of millions of dollars in losses attributed to theft, fraud, embezzlement, and other unauthorized uses of funds and organizational assets. According to a study cited by the Post, nonprofits and religious organizations suffer one-sixth of all major embezzlements, second only to the financial services industry.
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