Compliance Hotline Services
Why Have a Compliance Hotline?
While many different organizations are required to have a compliance hotline by Federal agencies such as the SEC and CMS, having an internal whistleblowing system is the new standard for ethical compliance. Providing employees with an anonymous and confidential outlet to report unethical behavior can now make or break your organization. Currently, 53% of all fraud tips are coming from employees within the victim organization. Without an internal whistleblowing system, employees have no choice but to turn to an external whistleblowing system (such as the platforms maintained by the SEC, FDA and the OIG) which can quickly turn into something much more serious.
Why let the pressure build-up internally within your organization? There is an easier way to enable open lines of communication.
More importantly, a compliance hotline serves as the cornerstone for an ethically responsible culture within an organization. At Compliance Hotline we believe that it is time for organizations to embrace ethical responsibility. Organizations can no longer turn a blind eye to unethical business practices, sexual harassment, or any other form of hostility within the workplace. By offering a compliance hotline, your organization shows that they are dedicated to creating an ethically responsible culture within your organization which consistently results in the hiring of better employees and the conducting of better business.
Examples of Organizations That Need Hotlines?
For a number of different reasons, almost every type of organization needs a hotline. Compliance and ethical business practices should be a cornerstone for all organizations. But here are some examples of why organizations need hotlines:
- Fraud Risks. If your company is at any risk of internal fraud, then you need to give your employees the tools to report it. If there aren’t encourage internal whistleblowing systems in place than a small fraud issue can quickly snowball into something much costlier.
- Prioritizing Compliance. If your organization is at all Federally or State regulated, then ensuring compliance among your staff should be a top priority. By having a compliance hotline, you can ensure that your employees feel comfortable directing any compliance concerns within your organization rather than an external whistleblowing system.
- School Systems and Student Safety. Unfortunately, in today’s world, student safety has become one of the largest concerns in the United States. By having a third party, yet internal, whistleblowing system students, parents, or teachers can direct their concerns regarding inappropriate relationships, threats to student safety, or whatever their concern might be to administration while remaining anonymous.
- Workplace Harassment. The “Me Too” movement has finally brought much deserved attention to a serious issue in the American workplace. Sexual harassment will not and should not ever be tolerated in the workplace or outside of it. With a hotline, victims of harassment can report these issues anonymously and confidentially before they get worse.
- Publicly Traded Companies. Since the passing of Sarbanes-Oxley in 2002, it has become required for publicly traded companies to have an established whistleblowing hotline.
- Counties and Municipalities. Within many counties and municipalities, budgets can be tight. By having a compliance hotline, you can feel safe knowing that you have provide.
Can Compliance Hotlines Save Money?
By using a compliance hotline your organization could potentially save itself millions of dollars, avoid protracted litigation and reduce the likelihood of your company being the victim of fraud. Recent studies have shown that by having a compliance hotline, organizations can save themselves money in numerous ways:
- Internal Fraud Within an Organization Can Cost an Organization Millions. By providing a platform for employees to report fraud, these issues can be dealt with internally and quicker than if the problems were allowed to grow out of control.
- Reports to External Whistleblowing Systems Often Result in Costly Litigation. By encouraging employees to report issues within their organization, outside agencies usually do not become aware of the issues allowing internal management to deal with them without the cost of dealing with an investigation and legal fees.
- Compliance Hotlines Can Lead to Fewer Lawsuits and Smaller Settlements. By dealing with harassment issues immediately when they start, an organization can find a solution quicker and easier before the issue builds into something costly and more difficult to deal with.
How Does Our Compliance Hotline Service Work?
Our hotline service provides several ways for employees, contractors, vendors, patients, and their families to report potential violations of an organization’s ethical, regulatory, or legal obligations. These reports are confidential and reporting individuals may choose to identify themselves or remain anonymous. Once a report is made, it is forwarded to the appropriate compliance professional designated by a sponsoring Human Resources (HR) representative or supplier organization. Options for making a report include:
Web-Based Reporting Option. An individual can conveniently file a report directly from our simple to use web-based reporting application. Individuals filing a web-based report may identify themselves or may make an anonymous report.
Fax-Based Reporting Option. A ComplianceHotline incident report form is included on our website and may be printed for completion and faxing in at a later time.
Mail-Based Reporting Option. Our incident report form may be sent by a concerned party directly to ComplianceHotline by mail.
E-Mail Based Reporting Option. Incident details may be sent by a concerned party directly to ComplianceHotline by e-mail
Toll-Free Telephone Report Line Option. Compliance Hotline maintains and operates a live, Compliance Hotline reporting service. Unlike many of our competitors, we do not subcontract this aspect of our hotline services to a commercial answering service operating out of a foreign country. Our hotline calls are answered by trained compliance personnel in Washington, DC.
Related FAQs.
- Is the information reported to Compliance Hotline kept confidential? The short answer is YES. Information reported is only accessible to authorized client management personnel who have a need to follow up on the incidents reported.
- Can individuals make an anonymous report to Compliance Hotline? YES, individuals contacting Compliance Hotline are welcome to remain anonymous. Despite the fact that their report was made anonymously, our system is designed to permit an anonymous reporter to follow-up and get updates on the progress of their report, while still remaining anonymous. The reporting individual can decide the level of detail to be disclosed in the information they report.
- Is the information reported to Compliance Hotline secure? YES, absolutely! Data security is of the utmost importance to us. The reported data is encrypted, and the systems and online interfaces use a secure connection using SSL.
- Is Compliance Hotline easy to access and easy to use? YES, our system is easy to access and easy to use. We strive to provide simple and easy to use reporting capabilities and management functions.
- Is Compliance Hotline expensive? NO, our system is remarkably inexpensive. In fact, we encourage you to compare the cost of our services with those of our competitors. Compliance Hotline can provide a cost-effective report line alternative to the often impersonal, expensive, commercial report line systems now relied on by many organizations. Unlike a number of the companies now servicing the industry, Compliance Hotline was designed by former Federal prosecutors with extensive compliance experience. Compliance Hotline services are priced on an individual basis. We take into account factors such as the size of your company, the extent to which you use multiple reporting formats such as telephone, email, online, fax or regular mail, and similar factors.
For an individual assessment of your hotline needs and costs, please provide the information requested below and we will follow up with you. Alternatively, you can e-mail us to schedule a telephone conference, or simply give us a call at 1 (800) 294-0952.
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