HCSD COMPLIANCE HOTLINE: 800.735.1185
Calls may be made anonymously and on a confidential basis as allowed by law. HCSD policy and the whistleblower provisions of the False Claims Act protect employees from retaliation for reporting suspected fraud, waste, or abuse/non-compliance with the Code of Conduct.
IMPORTANCE OF REPORTING ISSUES:
According to the Association of Certified Fraud Examiner’s 2008 Report to the Nation on Occupational Fraud, U.S. organizations lose an estimated 7% of their annual revenues due to fraud, which is a 2% increase from 2006. When applied to the projected 2008 GDP, those losses translate to approximately $994 billion. The report also concluded that organizations with anti-fraud controls and programs – such as fraud hotlines, internal audit departments, and fraud training – had significantly lower losses when compared to organizations without anti-fraud measures.
Of the cases in the report, 46% were detected by tips from employees, customers, vendors, and other sources. Tips were also the most common means of fraud detection in 2002, 2004, and 2006.