A typical organisation loses this much to fraud every year.
Why it matters
Problems don't go away when nobody mentions them
Someone sees it first. Whether you hear early depends on trust.
Silence is expensive
From the largest global study of workplace fraud, 1,921 cases in 138 countries.
Half of all cases cost more than this.
The median time a fraud runs before anyone finds it.
Organisations without one lost a median $200,000, twice those with one.
Source: ACFE, Occupational Fraud 2024: A Report to the Nations.
The law
The law already asks for it
Listed, 10 or more staff, or staff in the EU: one of these applies.
Listed companies, and companies that take public deposits or have borrowed more than ₹50 crore from banks, need a vigil mechanism.
It must protect people from victimisation and give them direct access to the Audit Committee chair.
Every listed company needs a vigil mechanism for directors and employees.
The Audit Committee reviews how it works.
Every employer with 10 or more employees needs an Internal Committee.
Inquiries finish within 90 days. Not complying can mean a fine of up to ₹50,000, doubled for a repeat.
Reports are full of personal data, and it has to be protected.
Failing to take reasonable security safeguards can cost up to ₹250 crore.
Companies with 50 or more workers in the EU need internal reporting channels.
Acknowledge within 7 days, give feedback within 3 months, and protect the person who reported.
A summary, not legal advice. Your lawyers will know which rules apply to your company.
What a good programme does
Six things to look for. SpeakUpSafe does all of them.
People can report without giving their name, and still get replies
Anonymous two-way chat with one access code.
There is more than one way in
Web, voice, a page that needs no account, and kiosks on the shop floor.
Every report is acknowledged on time
Legal clocks with reminders at 50% and 80%, and escalation when they slip.
Reporters are protected after the case closes
Check-ins at one, three and six months catch retaliation early.
The Audit Committee can see what is happening
A Board report with counts and trends, and a direct route to the Audit Committee.
You can prove it to an auditor
A hash-chained activity log and an evidence pack in one download.
Check yourself
How ready is your company?
Six questions, one minute
0 of 6 answered- Can someone report without giving their name, and still get a reply?
- Can people report in Hindi or another Indian language, by voice if they prefer?
- Can frontline staff without a work email report from a basic phone?
- Is every report acknowledged within 7 days, with a reminder if it isn't?
- Does your POSH Internal Committee track each step of the inquiry against its deadline?
- Could you show an auditor, today, who opened each case file and when?
Answer all six to see where you stand. Nothing you click here is saved or sent.
Hear about it early, not in the news
Free to start, and set up in an afternoon.