FROM THE PRESIDENT AND CEO
Bruce Dorris, J.D., CFE, CPA

The motto for the virtual 31st Annual ACFE Global Fraud Conference , June 21-26 is “Light the Way.” Howard Wilkinson had to keep increasing the size and intensity of his light to near-blinding brightness to prod Danske Bank and its regulators to investigate the frauds that were occurring under their noses. The latest issue of Fraud Magazine’s cover story on Wilkinson illustrates just how difficult it can be for whistleblowers to get people to see frauds happening right in front of them.

Wilkinson, who’ll receive the ACFE’s Cliff Robertson Sentinel Award at the upcoming conference, was responsible for the financial markets operations at Danske Bank’s Baltic branches. Armed with professional skepticism, he discovered that companies and persons, with which the bank had little-to-no relationship, were mysteriously depositing money. He gave this information to his superiors, but they did nothing. Thankfully, he didn’t give up — he kept digging. His diligence paid off when he uncovered a $230 billion money laundering scheme.

Wilkinson’s light wasn’t a mere signal from a flare gun far on the horizon. He was a bright spotlight that shone straight into the eyes of the bank executives. And even though they tried to turn their heads, Wilkinson kept pushing and showed them that what they were doing was wrong.

All countries need strong whistleblower laws and reporting mechanisms to encourage people to report fraud and to protect those like Wilkinson, who do come forward. Too often, tips to governments and organizations seem to disappear into a black hole, and they don’t take any action.

The ACFE’s Report to the Nations consistently shows the value of tips and hotlines. Losses are smaller at organizations with hotlines than those without. As Wilkinson puts it, “Without a strong system to encourage reporting it is difficult to detect breakdowns in internal controls.”

A hotline is a great tool, but a strong corporate ethos must be in place to make it effective. If those employees on the front lines don’t believe their organizations are acting on their valid complaints, then hotline tips will dry up, and the likelihood of finding fraud becomes faint and dim. The light begins to fade.

Wilkinson didn’t just share his findings once and then go away. His tenacity in refusing to just turn and walk away into the dark is why we’re proud to honor him with such a distinguished award.

Howard Wilkinson’s inspiring tale appears in the March/April issue of Fraud Magazine’s cover story.

Read Fraud Magazine

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