Fraud Investigations Tips - Build an Effective Fraud Tip Hotline

Posted on July 11, 2014


The Association of Certified Fraud Examiners (ACFE) reported that over 40% of all occupational fraud schemes were detected by a tip, usually from an employee (see ACFE's Report to the Nations on Occupational Fraud and Abuse: 2014 Global Fraud Study). 

If your organization can only invest in one tool to detect internal fraud, then spend your money wisely and invest in an effective tip hotline. In fact, having a tip hotline is the most-effective method to detect occupational fraud. Companies that have an effective tip hotline reduced the loss of the fraud scheme by 41%, and they detected the frauds 50% more quickly than by using any other method. Check out the report online at http://www.acfe.com/rttn/docs/2014-report-to-nations.pdf.

A tip hotline is only effective, however, if there is a reliable mechanism in place to follow up on the tip and investigate. Clarium Fraud & Compliance Solutions can help you put a fraud tip hotline in place and investigate those tips.

Call 780-719-0016 today to see how a tip hotline can help protect your organization.

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