Have a Company Policy to Manage Tips

Posted on September 10, 2014

If somebody from within your organization wants to expose a fraud scheme on the loading dock, the accounting room, or in the C-Suite, are you ready to listen? In his article "When it Comes to Tips, Having a Policy is Crucial" written for the August ACFE Newsletter, Scott Patterson (CFE) explains the importance of a having a whistleblower policy in place.  Scott argues that the three crucial elements are:

  • Have a written policy,
  • Allow for anonymous reporting, and
  • Have a response plan.

Check out the full article at: http://www.acfe.com/fraud-examiner.aspx?id=4294984701. I couldn't agree more with Scott.  In my experience as a police detective I can attest to the value, and liabilities, of working with informants.  These folks know more than our data analytics can hope to explain.  You need to listen to them and give them an opportunity to safely report their tip.

If your firm is considering creating a whistleblower program please contact Clarium Fraud and Compliance Solutions and leverage our expertise to help put an effective program in place.  Protect your firm.

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