External and internal misconduct can result in severe financial losses and reputational risks. For this reason, the early detection and proper handling of such incidents is especially important.
According to surveys conducted by the Association of Certified Fraud Examiners (ACFE), 43% of fraud cases are detected through tips, and 52% of those tips come from employees. The report also highlights the channels used for reporting: 53% of tips are submitted via official reporting channels. While telephone reporting is on the decline, reports submitted via email or dedicated whistleblowing platforms are increasing. Additionally, the data shows that the longer the delay between the incident and its discovery, the greater the resulting loss.
Under Act XXV of 2023 on Complaints, Public Interest Disclosures, and Whistleblower Protection, companies with at least 50 employees are now legally required to establish and operate a whistleblowing system. While companies with fewer employees are not legally obligated, implementing such a system can still prove useful and effective in detecting fraud and misconduct — and is therefore strongly recommended. Furthermore, from January 1, 2025, all entities operating in the public sector will also be required to establish such a system.
If your organization does not yet have a whistleblowing system in place but the need has been identified, ABT can assist you with the necessary steps for implementation. It can also be highly beneficial to involve an external expert familiar with best practices to support this organizational development process.
ABT provides comprehensive support to ensure compliance with legal requirements and alignment with your internal needs, including:
- Implementation and operational support
- Development of policies, procedures, and guidelines
- Training and onboarding for system users
With its extensive experience and expertise, ABT has successfully assisted many satisfied clients in both the implementation and operation of whistleblowing systems. In addition, ABT collaborates with qualified legal professionals to assess findings, documents, and evidence from a legal standpoint and provides legal representation in official notifications or legal proceedings.
Your personal contact:
Márton Gajdos dr., CIA, CISA
Partner, Risk & Compliance Services
