BC Advantage - 2016 Issue 5

Ten Critical Elements for a Successful Compliance Hotline Program

Hotlines are an extremely effective, though relatively inexpensive, component of a successful compliance program by increasing the detection of fraud through "tips." The importance of this cannot be understated as frauds detected by tips were identified 50% more quickly and were 41% less costly to resolve as compared to frauds detected by other methods. In addition, companies with hotlines detected frauds half of the time through "tips," whereas companies without hotlines only detected fraud through tips a third of the time (for additional details, see the 2014 Report on Occupational Fraud and Abuse prepared by the Association...

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