Hotlines Heat Up Fight Against Fraud
Not all tips are created equal; two-way communication makes the difference
Occupational fraud costs U.S. businesses more than $660 billion each year, according to the Association of Certified Fraud Examiners. That's a staggering amount of money. The group's "2004 Report to the Nation" found that the median loss for insurance fraud ($172,500) was considerably higher than the median losses in industries like banking ($101,000) or retail ($31,000).
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