Fraud hotlines: Decide who answers the phone

Tip lines can be valuable tools for gathering fraud intelligence and companies should weigh four factors to decide whether to run an internal hotline or outsource this function, according to JD Supra Business Advisor. The first factor is confidentiality: An external fraud reporting hotline may boost whistleblower confidence in the anonymity of reporting, leading to more tips. Another consideration is person-to-person service: While some organizations use voice mail to answer internal hotlines after business hours, many external systems have live agents available 24 hours a day, seven days a week. Further, some external systems offer translation and interpretation services that internal services can't match. Lastly, there's the issue of cost: In-house lines are easy to set up but may be expensive to maintain compared to subscribing to a system managed by a vendor, the article noted. Article

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