Whistle BlowersEthics

Fraud costs retailers billions!

June 25, 2015

Shoplifting, administrative errors and employee or supplier fraud costs retailers billions every year. According to a survey by the National Trade Federation (NRF), shoplifting accounted for the largest portion of the loss at 38%, followed by employee theft at 34.5%, administrative and paperwork theft at 16.5%, vendor fraud or error at 6.8% and unknown loss…

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Whistle BlowersEthics

Why Companies Need A Whistleblowing Program

May 27, 2015

Whistleblowers have saved companies billions of Rands over the last decade, but have not always received the protection or the appreciation they deserve.

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Whistle BlowersEthics

PURPOSE OF WHISTLEBLOWING

April 23, 2015

The purpose of whistleblowing is to eradicate unethical behaviour in the workplace. A key component to workplace ethics and behavior is integrity, or being honest and doing the right thing at all times. 25% of employees would steal, 25% would never steal, 50% could go either way depending on culture. – M J Comer Organisations…

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Whistle BlowersEthics

Why is Whistle Blowers a must for every organisation?

April 15, 2015

  Whistleblowing is consistently the most common detection method, by a significant margin, for cases of occupational fraud. The longer frauds last, the more financial damage is caused, therefore proactive detection measures, such as a whistleblowing hotline, are vital in detecting frauds early and limiting company losses. 43% of fraud is uncovered by whistleblowers.  The…

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Whistle BlowersEthics

WHISTLEBLOWING – ETHICAL CULTURE ON THE INCREASE

March 26, 2015

The whistleblowing phenomenon is not going away. The Securities and Exchange Commission (“SEC”) recently released its annual report, which had some eye-opening statistics and facts for companies. Chief among those was the fact that, of the whistleblowers that came forward to report fraud to the SEC, over 80% had reported the matter internally first.

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Whistle BlowersEthics

How can whistleblowing reduce your workplace crime?

March 18, 2015

The Ethics Resource Center (ECR), found that in companies with comprehensive ethics and compliance programmes, only 29 percent of employees fail to report misconduct they observe, in contrast to 61 percent in companies with no formal ethics and compliance programmes.  Nevertheless, still less than 40 percent of employees state that their company has a comprehensive…

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Whistle BlowersEthics

SMALL IS AS VULNERABLE

March 12, 2015

Fraud poses a significant threat to small businesses, warns the head of a corruption monitoring firm. Small companies are disproportionately victimized by fraud and significantly under protected by anti-fraud controls, a combination that could easily put them out of business. “In South Africa, everyone needs to be brought into the crime-fighting fold.” says Dale Horne,…

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Whistle BlowersEthics

HOW CAN EMPLOYEES BLOW THE WHISTLE?

March 04, 2015

In terms of Whistle Blowers standard contract, each client receives a unique, dedicated freecall number to our technologically advanced, fully computerized, live, multilingual manned call centre for verbal reports, and an e-mail address, postal address and fax number for written reports. All irregularities disclosed to our call centre are reported to designated parties, stipulated in…

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Whistle BlowersFraud Prevention

Fraud Prevention Policy – A Whistle Blowing System is Needed

February 29, 2012

A whistle blowing system system is an essential element of any fraud preventing policy. The Companies Act (2008) – Section 159 states in item (7)….“a public company and state owned company must directly or indirectly – (a) establish and maintain a system to receive disclosures contemplated in this section confidentially and act upon them a….

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