What is the second-best bang-for-buck control to prevent fraud at your company?
Human nature means your first question is “Wait, what is the best control to prevent fraud?”
It is a tip hotline.
43% of fraud schemes were detected by tips, and 33% of the tips were through tip hotlines and emails per the Association of Certified Fraud Examiners (ACFE) 2020 Report to the Nations. There are lots of providers of tip hotline services and they are relatively easy to implement. If you go with DIY tip hotline, make sure that people can access it (internal and external) and that…
