The Fraud Advisory Panel is a UK charitable organisation. Incorporated in 2001, the Panel focuses on offering advice and education to the general public on how to mitigate and avoid fraud. Panel members have provided evidence to the House of Commons Tresury Select Committee and frequently participate in government consultations and commentary on the television, radio, and newspapers.
The Panel was established in 1998 by the Institute of Chartered Accountants in England & Wales, which continues to support its work.
Governance
The FAP is a charitable company limited by guarantee in England and Wales (charity number 1108863; company number 04327390). It is governed by a board comprising between three and fifteen trustee directors. Trustees are experienced counter-fraud professionals drawn from across sectors. ICAEW also has the right to appoint one third of the directors. The board is led by a chairman, a voluntary position that has been held by the following people:
George Staple CB QC (2001-2003) Rosalind Wright CB QC (2003-2014) David Kirk (2014-2019) David Clarke (2019-2022) Sir David Green CB QC (2022-)
Dominic Grieve QC, the former Attorney General became a patron of the Panel on 7 September 2018.
In January 2021, the charity had two members of staff, Mia Campbell and Zara Fisher.
Membership
Membership of the Panel is open to individuals and organisations that are concerned about the harm caused by economic crime and want to do something about it. Membership offers various benefits including the opportunity to keep up to date with trends in the counter fraud field, meet fellow counter-fraud professionals, exchange insights and influence change to protect society from crime. Corporate membership has the added benefit of making a public demonstration that the organisation is committed to supporting initiatives that fight fraud. The Panel also offers a student membership that provides eligibility to apply for the Panel's mentoring scheme. Those new to the profession have a dedicated group that is free to join called the Future Fraud Professionals Network with its own committee structure that arranges regular professional events and social events.
The ICAEW is a funding members; other corporate members at January 2021 included: Access Bank plc Association of Chartered Certified Accountants (ACCA) Association of Certified Fraud Examiners (ACFE) Baker Tilly BDO CIFAS Consultative Committee of Accountancy Bodies (CCAB) Ernst and Young Financial Conduct Authority Grant Thornton International Compliance Association JMW Solicitors KPMG Law Society of England and Wales Moon Beaver Pinsent Masons PWC Smith and Williamson Tenet Litigation and Compliance Synectics Solutions
Annual Lecture
Chief among the Panels series of events is the publication of a special report and an annual lecture at the Annual General Meeting held in the summer. The lecture has been delivered by a number of distinguished people with notable experiences in the field of fraud including:
2016, Former Attorney General Lord Peter Goldsmith QC PC. Special Report: The Fraud Review 10 years on. 2017, Former UBS trader and convicted fraudster Kweku Adoboli. Special Report: Businesses Behaving Badly. 2019, Investigative Journalist Oliver Bullough, Special Report: Hidden in Plain Sight. 2020, Film maker and convicted tax fraudster Chris Atkins, Special Report: Calm Before the Storm.
International Charity Fraud Awareness Week
The Fraud Advisory Panel partnered with the Charity Commission for England and Wales to launch the International Fraud Awareness Week to help charities and not for profit organisations to avoid falling prey to fraud. The week includes webinars, news interviews and the publication of freely accessible anti-fraud advice.
In 2017, the FAP called for fundraising pages to be regulated amid fraud concerns following the launch of bogus Just Giving pages soon after the Westminster Bridge terror attacks.
The FAP has issued a wide range of guidance to help protect charities from economic crime and cyber crime including advice on how to avoid COVID-19 related fraud and these are available free of charge on their website.