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Revisiting the roles and responsibilities of those handling whistleblower tips

Eleftherios Tsintzas (lefti4@yahoo.com) is the Deputy Audit Division Director at Alpha Bank Romania in Bucharest, Romania.

In their 2018 Report to the Nations,[1] the Association of Certified Fraud Examiners reported that the most common method of fraud detection was a tip (40%). For organizations with hotlines/helplines, the number of the fraud cases revealed through tips increased to 46%, and the median losses from fraud were 50% smaller. Also, the duration of the fraud was 50% shorter at organizations with hotlines.

But what happens if an organization has established a hotline, but the overall whistleblowing process has not been designed and implemented properly?

The case described below has been inspired by a true story, but persons and entities mentioned are fictitious.

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