The most powerful weapon against fraud is not an algorithm or a checklist but a whistleblower. The Association of Certified Fraud Examiners calculates that three times as many frauds are discovered by tip-offs than by any other method. It also notes that firms with fraud hotlines, which staff can call anonymously, suffer smaller losses from fraud, and cut by seven months the “exposure gap” between the start of an illicit scheme and its discovery. Governments are increasingly providing whistleblowers with legal protection. Fraud within companies is a risk that can never be eliminated, just managed. The full article can be read in the Economist, March 1.

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