Anti‑Fraud Statement
LSBU Anti-Fraud Statement
LSBU is committed to conducting its business with integrity, transparency, and accountability. Fraud in any form is wholly unacceptable and will not be tolerated.
We recognise our responsibility to safeguard the public funds, research grants, donations, and other resources entrusted to us. Fraud undermines academic integrity, damages trust, and diverts resources from our mission of teaching, research, and service to society.
Fraud can be defined as the use of deception with the intention of:
- Gaining an advantage, personally and/or for family or friends
- Avoiding an obligation
- Causing a financial loss to the LSBU Group or associated company.
Whilst not a definitive list, the main types of fraud are:
- The theft of cash, assets or any other property of the Group by staff or students
- False accounting – dishonestly destroying, defacing, concealing or falsifying any account, record or document required for any accounting purpose, with a view to personal gain or gain for another, or with the intent to cause loss to the Group or furnishing information, which is or may be misleading, false or deceptive
- Deliberate claiming of expenses that were not incurred on Group business, or the use of Purchasing Cards for the same purpose
- Abuse of position – abusing authority and misusing resources or information for personal gain or causing loss to the Group
- Entering unfavourable contracts or arrangements with suppliers to benefit personally from the relationship
- Attempting to make payments to a Group Company with a stolen or unauthorised credit/debit card
- Money laundering (covered by the Group’s Anti Money Laundering Policy)
- Insurance Fraud
- Bribery (Covered by the Group’s Anti Bribery Policy)
- Cyber fraud
Any member of staff who suspects with that fraud has been committed must report the matter immediately to their line manager. The line manager should then immediately inform their head of department who will share this information with the Group Chief Financial Officer.
The LSBU Group has a Speak Up hot line which may be used by staff who, for any reason, wish to submit information wish to submit information outside of the management chain described above. Staff are encouraged to speak up as soon as possible. The policy can be viewed on the staff intranet. All reported cases of actual, attempted or suspected fraud committed by individuals or entities associated with the Group, including members, staff, students, contractors or other third parties. Investigations are conducted in accordance with the LSBU Group Fraud Response Plan. Appropriate disciplinary and/or legal action will be taken if fraud or corruption is proven and the LSBU Group will pursue full recovery of any lost funds or assets.
Our Commitment
We will maintain a zero-tolerance approach to fraud, whether committed by staff, students, contractors, suppliers, or any other associated person.
We will implement and continually improve robust fraud prevention, detection, and response procedures in line with best practice and legal requirements, including the Economic Crime and Corporate Transparency Act 2023.
We will foster a culture of honesty and accountability, ensuring that ethical standards are embedded in all aspects of our activities.
We will ensure all staff, students, and partners are aware of their responsibilities to act honestly, with integrity, and to report any concerns.
We will provide secure and confidential channels for reporting suspected fraud, with appropriate protection for whistleblowers.
Our Expectations
All members of LSBU Group must act in accordance with this statement and the LSBU Group’s Anti-Fraud, Anti Bribery and Anti Money Laundering Policies.
Managers and leaders are expected to set the tone from the top by demonstrating integrity and promoting compliance within their teams.
Contractors, suppliers, and external partners are required to meet the same standards of conduct and compliance.
Our Response
All allegations of fraud will be investigated promptly, fairly, and thoroughly.
Proven cases of fraud will result in disciplinary action, up to and including dismissal or expulsion, and may be referred to the relevant authorities for prosecution.
Lessons learned from fraud incidents will be used to strengthen our prevention and control framework.