Whistleblowers Still the Best at Detecting Fraud

Published on August 02, 2007

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Whistleblowers Still the Best at Detecting Fraud

Major Audit Firm Releases Corporate Crime Survey Results

According to the survey,

While professional auditors were only able to detect 19% of the frauds on private corporations, whistleblowers exposed 43%.  Executives surveyed estimated that the whistleblowers saved their shareholders billions of dollars.

“This survey is proof that corporate shareholders directly benefit from whistleblower disclosures. Instead of firing the whistleblower, this survey demonstrates that corporate culture should change,” Stephen M. Kohn, President of the National Whistleblowers Center.

“Congress must do its job and enact comprehensive whistleblower protections. Corporations must change their own operating culture and stop retaliating against honest employee whistleblowers. Who loses when a whistleblower is fired? The taxpayers and the shareholders,” added Kohn.

The PricewaterhouseCoopers’ Survey is consistent with statistics released by the U.S. Department of Justice, demonstrating that employee whistleblowers are responsible for detecting the majority of civil frauds collected by the United States from unscrupulous and dishonest government contractors.

The PricewaterhouseCoopers’ Corporate Crime survey can be found here.

Whistleblowers can protect against retaliation by visiting the Know Your Rights Page.

For legal assistance and to ask for a free case evaluation go to the whistleblower legal assistance program.

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