The campaign is aimed specifically at smaller companies and provides guidance on a variety of subjects, from accepting card payments to safe phone and online transactions. Its goal is to help business owners catch fraud early and prevent financial losses, reputational damage or even business collapse.

Throughout 2023, Love Business, Hate Fraud will be running a series of fraud awareness sessions covering several topics, including cybercrime and managing risks, with more to be added later in the year.

James Turley, our fraud education and awareness lead, says: “We often hear about the devastating impact fraud can have on consumers, but less about the impact it can have on businesses, where fraud can have an equally devastating impact, Love Business, Hate Fraud provides simple, practical information on how you can protect your business. Focusing on key topics, such as staff fraud, buying and selling goods and services safely, with further topics shared throughout the year.”

Businesses can access a wide array of free resources, including advice on fraud-prevention best practices, articles, case studies and webinars on the Fraud Advisory Panel’s  Love Business, Hate Fraud campaign pages.

There’s also information about existing threats, like insider fraud, card-not-present fraud and purchasing fraud, as well emerging problems like pension fraud, and crypto-currency scams.

The Fraud Advisory Panel encourages business owners and managers to share information about fraud and cybercrime threats regularly with all staff members, in order to minimise the risks to businesses. Advice from the current campaign can be shared on social media using the #LoveBusiness tag to help increase awareness of the issues being highlighted.

The Fraud Advisory Panel was founded in 1998 by the Institute of Chartered Accountants in England and Wales (ICAEW) and members come from a wide range of professions and sectors. The organisation is the voice of the counter-fraud profession, committed to tackling fraud and financial crime.

We support the work of the Fraud Advisory Panel and urge its business customers to explore the anti-fraud resources available to them on the organisation’s website, and on our own fraud awareness pages.