A study by the Association of Certified Fraud Examiners showed that organizations that implement reporting channels experience 50% less fraud than those that lack them.
The successful reporting channels include an 0800 phone line, web page, email, personal assistance and mail; allowing for anonymous and confidential reporting. They help detect fraud and irregular behavior in a timely manner, and deter employees, suppliers, customers and third parties by increasing the perception of detection. They provide useful information to the Board, Senior Management, Auditing Committees, Compliance Officers, Internal Auditors, Researchers, etc.; and comply with regulations such as the FCPA, the UKBA, and the Brazilian Anti-Corruption Law No. 12,846/13. Additionally, they are very useful in cases of high reputational and legal risk such as discrimination, sexual harassment, bullying, as well as security, hygiene and quality failures.
