Whistleblower Hotline Service
…The One Stop Solution Provider to Fraud and Financial Crime.
WFO Whistleblower Hotline
It is a fact of life that the majority of white collar crimes are perpetrated
by organizational insiders. Fraud and misconduct surveys have shown
that employees within organizations continued to pose the single largest
fraud risk, both with regard to the number of fraudulent instances as well
as the value thereof. These frauds are perpetrated by employees either
acting on their own or in collusion with third parties.
Blowing the whistle on fraud, corruption and unethical behavior
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One major obstacle in the fight against fraud, corruption and unethical
behavior is the reluctance of individuals to “blow the whistle” on such
activities. Fear from retribution or victimization from employers or
colleagues dissuades many from reporting instances of fraud and
corruption. The 2011 Security and Exchange Commission (SEC) Code of
Corporate Governance obligates public companies to implement an
effective whistleblowing policy with the appropriate mechanisms for
reporting illegal or unethical behavior.
Similarly, the 2006 Code of Corporate Governance for Banks in Nigeria
Post Consolidation, which was issued by the Central Bank of Nigeria,
obligates the banks to implement effective whistleblowing including the
assurance of anonymity and confidentiality to the whistleblower. An
effective policy to encourage whistle blowing enables employers to find
out when something is going wrong in time to take corrective action. A
positive whistleblowing culture is a critical element in the success of any
risk management system. Whether or not organizations have effective
whistle blowing policies in place demonstrates a firm’s ability and will to
regulate itself.
The risk you face
Employees are usually the first to know of any unethical conduct or
behavior and many will feel they stand to lose the most by speaking up.
Those who genuinely suspect that something may be going seriously
wrong in the workplace usually face a difficult dilemma. They can remain
silent and look the other way, they can raise the matter with the
employer, or they can take their concerns outside the organization. A
good policy encourages and protects responsible whistleblowing.
Unless the culture in the workplace is one which allows employees to speak up without fear, each option might be seen to have
adverse repercussions- for the employer, the employee, or the wider public (including shareholders, taxpayers, trading partners
and customers). Confronted with equally uncomfortable choices, most employees will choose the option of ‘turning a blind eye’
to unethical behavior and remain silent. This is the safest option and the most practiced one. Unfortunately, this option results
in more unethical behavior going unchecked.
Responding to Whistleblowing
Organizations must provide mechanisms such as confidential hotlines, and establish internal procedures which allow employees
to anonymously and confidentially report incidents of fraud, corruption and unethical behavior within the company. Rigid line
management, without a whistleblowing system, risks providing middle management a monopolistic control over the information
that reaches those in charge.
Whistle blowing by employees has been recognized as an effective source of information for uncovering any incidents of fraud
or misconduct within organizations. Timely action in response to whistleblowing reports can help mitigate the impact of fraud
and detect it before it grows in proportion. However, many organizations face challenges in establishing a robust whistle
blowing policy and subsequently have less convincing channels for encouraging employees to report suspicious incidents.
WFO Ethics Helpline service can help clients establish and manage a secure, efficient and impartial reporting channel for
WFO’s Ethics Helpline
We offer tools to enable employees as well as third parties associated with an organization to report any suspected malpractices
of fraudulent activities.
…innovative thinking.
Salient features of the service
Maintains confidentiality of the caller, giving
him/her the confidence of reporting without any
All calls are answered by trained call handlers to
probe the caller, capturing maximum information.
Callers are never addressed by automated systems
or interactive voice response systems. This ensures
that a wide range of unethical practices that may
otherwise not conform to any specific category are
also addressed.
Hi-Tech environment equipped with advanced
technology resulting in high standards of record
keeping and data security.
Comprehensive audit trail on any activity on any
report received.
Periodic reports generated by the system to
indicate trends/areas of concern and other valuable
information based on caller records. These reports
can help management set up a process for
remediation and frame policies preventing such
vulnerabilities in their internal controls.
Issues commonly reported via WFO
Whistleblowing helpline
Thefts, Bribes and Kickbacks
Conflicts of interest
Data Privacy
Information protection
Potential criminal violations
Internal accounting controls
Fraudulent transactions
Questionable accounting/auditing matters
Expense report abuse
Drugs, alcohol or weapon carrying on company’s
Issuing of threats or threatening statements to
colleagues or clients
Reports can be made by phone calls or e-mails as highlighted below;
 Phone:0800HOTLINE (08004685463)
 E-mail: [email protected]
This Whistleblower service is powered by WFO Professional Services LLP, a third party service provider
…innovative thinking.
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