|Fraud-Hotline is an Internet based anonymous fraud reporting tip line.
Why is this service important and helpful:
- According to the 2010 Nations on Occupational Fraud and Abuse study,
the typical organization loses five percent of revenues to fraud
- Fraud hotlines provide an effective deterrent against fraud
- Employees may be more likely to report fraud if they feel they can do so
anonymously to an independent third party
or auditing matters"
- Section 304 of the Sarbanes-Oxley Act of 2002 requires audit committees
of public companies to "establish procedures for the confidential,
anonymous submission by employees regarding questionable accounting
The site was developed to help provide a cost effective, yet secure, means for
combating fraud and to help public companies comply with the fraud reporting
provisions of Section 304 of the Sarbanes-Oxley Act.