Did you know tip hotlines have proven to be one of the most effective ways to detect or prevent fraud? Nearly half (43%) of detected fraud is discovered due to a tip. Operating without an ethics hotline may be accepting unnecessary risk. We believe that organizations should make it easy for their employees to report suspected fraudulent activity/theft, misconduct or unethical behavior.
Accounting Today recently published an article, “Best Practices of Employee Hotlines.” This article highlights methods of functionality and internal guidelines as well as employee support, and includes input from our own Nick Lynch. Read the full article here.
Dean Dorton provides employees with a safe, secure and anonymous way to report concerns 24/7 via our ethics/whistleblower hotline – Red Flag Reporting. Some of the key benefits of this service include:
- We provide live, onsite training from an experienced fraud examiner. A webinar is available for those unable to attend the onsite training.
- Our hotline allows web reporting and live, 24/7 phone reporting via a toll-free number. We also offer collateral material that helps keep the hotline top of mind, including wallet cards, posters and quarterly emails.
- Our reports do not go straight from the operator to the client. Our reports first go to an experienced fraud examiner.
- By putting this hotline in place, you will convey to your employees that your organization is committed to an ethical culture. As an employer, you will have comfort in that the hotline provides you with a safeguard that may identify employee concerns or complaints before they develop into a crisis situation.
- Utilizing a third-party expert provider provides your employees with comfort that their concerns will be handled in a confidential and anonymous manner.
To put our fraud hotline in action for your organization or for more information about the benefits, contact Nick Lynch (nlynch@deandorton.com) or Elizabeth Woodward (ewoodward@deandorton.com).
