Whistleblowing proven to prevent and mitigate corruption
New trends in corporate whistleblowing were presented today by Karin Henriksson, Founder of WhistleB, the Sweden-based online whistleblowing service provider. Compliance managers are now bringing whistleblowing into the digital age to encourage more people to report suspected criminal activity.
Speaking at the Nordic Light Audit Executive seminar in Helsinki, Karin explained how whistleblowing protects against losses and reputational damage when properly implemented. A factor “boards of directors should take seriously”, she said. Preventing and mitigating corruption are key concerns.
“Last week’s events in Romania, and now this week in France remind us that people are clearly unwilling to tolerate corruption and financial fraud. However, identifying strategic and effective tools to mitigate such risks is a significant challenge for companies and authorities,” said Karin.
Whistleblowing allows companies and other organisations to receive early tips of suspected wrongdoing. According to a recent surveys carried out by WhistleB, Nordic compliance managers recognise this and are bringing whistleblowing into the digital age to encourage more people to report suspected criminal activity. One key trend in the Nordics is to offer anonymous online reporting to employees and suppliers, for high data security and user-friendliness.
A recent survey of more than 100 of WhistleB’s customers highlights three clear trends in whistleblowing:
online reporting is growing, 80% of compliance professionals in Scandinavia report that they receive the majority of their whistleblowing reports through a web service today.
anonymous reporting and dialogue with the whistleblower are key success factors, so data security is essential. The forthcoming EU Data Protection Regulation is clearly increasing the awareness of and need for data security and privacy.
internal management of whistleblowing cases dominates over external handling.
Research conducted internationally by the Association of Certified Fraud Examiners (ACFE) last year corroborates this trend. For the first time, tips submitted via email (34.1%) and web-based or online form (23.5%) combined to make reporting more common through the Internet than by telephone.
1. WhistleB online survey, sent to 100+ Swedish companies and authorities, July 2016.
2. 2016 ACFE Report to the Nations on Occupational Fraud and Abuse
Gunilla HaddersFounding partner+46 70 214 88 email@example.com
Karin HenrikssonFounding partner+46 70 444 32 firstname.lastname@example.org
+46 70 214 88 73http://www.whistleb.com
WhistleB is a global whistleblowing service provider that operates in 100 markets, on all continents, in 40 languages. Customers include global and local companies in both the public and private sectors. We are dedicated to delivering a service with highest data privacy. We are compliant with current data protection laws, the forthcoming GDPR and ISO 27001.
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