According to the 2014 Association of Certified Fraud Examiners Global Fraud Study, hotlines have once again proved to
  be an effective tactic for fighting fraud.

  The Report to the Nations confirms that, consistent with previous studies, tips were the leading method by which frauds  
  were detected. The Report to the Nations also found:

  • 67 percent of anonymous tips were received through hotlines

  • Where a hotline was in place, fraud schemes were detected seven months sooner, on average

  • Median loss was reduced by 59 percent in organizations where an ethics hotline was present
Fraud Facts & Resources

     Resources -- Learn More About Fraud:
Fraud Facts & Resources

NEWS -- On August 21, 2012, the Securities and Exchange Commission issued its first award under its new whistleblower program. The anonymous whistleblower will
receive nearly $50,000, representing the statutory maximum of 30% of the amount collected in the SEC enforcement action. The SEC press release provided virtually no
information concerning the whitleblower or the enforcement action in a conscious effort to protect the whistleblower's anonymity. The decision to pay the maximum award
permitted by law and to scrupulously protect the whistleblower's anonymity appear calculated to demonstrate that the SEC intends to be aggressive in encouraging
potential whistleblowers to make use of the new bounty program. In this environment, to the extent that they not already done so, companies should assess and, if
necessary, strengthen internal compliance programs, evaluate the effectiveness of internal reporting systems and formally prepare to respond to whistleblower
complaints.
Operated by Jeffrey B Kramer CPA