Summary
This guide addresses the critical issue of fraud within social housing, emphasizing the responsibilities of governing bodies in managing fraud risks. It outlines the significant financial impact of fraud on the social purpose sector, which can amount to hundreds of millions, if not billions, of pounds annually. The document categorizes fraud into tenancy and corporate fraud, detailing how tenancy fraud can occur through various deceptive practices that lead to financial losses and reduced housing availability. It also discusses the implications of the Economic Crime and Corporate Transparency Act 2023, which introduces a new offence for organizations failing to prevent fraud committed by employees. The guide further explains the necessity for registered providers to conduct thorough fraud risk assessments, ensuring that appropriate counter-fraud controls are in place. It highlights best practices for fraud prevention, the importance of reporting fraud incidents, and the ongoing nature of fraud risk assessments to maintain organizational resilience against fraud.
