Report: Fraud and Retaliation on the Rise
A new compliance benchmark report reveals some alarming findings for compliance and ethics officers: fraud and instances of retaliation against those who report it continue to rise.
According to the 2014 Corporate Governance and Compliance Hotline Report conducted by The Network, the percentage of fraud-related incidents across all reports increased from 23.6 percent in 2012 to 26.31 percent last year—marking an all-time high since 2005, when The Network first issued its Corporate Fraud Index.
Over the past five years, The Network has amassed a vast amount of data from the reports that come in through telephone and web-based hotlines. The latest data represents a compilation of 646,837 reports covering 2009 to 2013. In 2013, 141,852 reports were taken from 1,117 organizations representing 14,598,872 employees. Information and findings presented in the report reflect a wide variety of companies and industries from around the world. Read more on Compliance Week.