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Theft and Fraud are Top Concerns of Corporate Whistleblowers

Submitted by: Network, The

Categories: Corporate Governance

Posted: Sep 26, 2003 – 12:00 AM EST

 

Sep. 26 /CSRwire/ - NORCROSS, GA - The collective concern over corporate fraud has inspired new regulations designed to protect whistleblowers. More and more companies are making it easier for employees to report workplace issues while remaining anonymous. Encouraging whistleblowers could save companies, and therefore investors, billions by detecting costly fraud schemes. The topics reported by whistleblowers vary among employees and corporations, but one company is now tracking trends among whistleblowers.

The Network, Inc., the company that pioneered the anonymous employee hotline over 20 years ago, has released a ranking of the "Top Five Concerns of Corporate Whistleblowers", based on calls it received in the first half of this year from employees across the nation. The list includes:

1. Theft/ Fraud - 35.7% of calls

2. Discrimination - 16.0%

3. Wage/Overtime Violations - 13.0%

4. Sexual Harassment - 5.8%

5. Poor Customer Service - 5.7%

"In the post-Enron era there is a greater awareness of the need to report fraud and ethics concerns, and employees turn to the hotline so they will be able to remain anonymous in reporting their concerns," said Tony Malone, CEO of The Network, Inc.

"Hotlines have been a powerful tool for detecting fraud for some time," said Malone, "but companies that make an effort to open the lines of communication with their employees are also finding out about a variety of issues, including discrimination, wage violations, sexual harassment and poor customer service."

"As more and more companies institute independent hotlines, tips regarding highly sensitive issues like these should increase, because employees are more confident about their ability to remain anonymous." said Malone.

"The communication of these types of issues is a major step toward resolution and the ultimate goal of prevention," he added.

The Network regularly tracks call statistics of its reporting services, which reach more than 14 million U.S. workers. It will release its "Top Concerns" findings annually.

About The Network

The Network (www.tnwinc.com) for the past 20 years has helped clients collect information and address critical issues such as ethics, risk management and service quality. The Network provides services such as hotlines, insurance claim reporting and employee communications to over 1,300 clients, including one-third of the Fortune 500.

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NOTE TO EDITORS:
A graphic bar chart of "Top Five Corporate Whistleblower Concerns" in the format of your choice is available by calling 800-253-0453, ext, 6644.

For more information, please contact:

Adelle Erdman The Network
Phone: +1-800-253-0453, ext

 

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