BIHL introduces anti-fraud initiative

Botswana’s leading financial services group, Botswana Insurance Holdings Limited (BIHL) has introduced a tip-off service hotline, called Resebetse to address cases of insurance fraud.

The hotline, according to the company’s legal, risk and compliance head, Tefo Setlhare, was introduced three years ago, at their 100 percent owned subsidiary, Botswana Life Insurance Limited (BLIL) after serious cases of insurance fraud were being experienced.

Setlhare said this week that at that time, the tip-off service was introduced solely for Botswana Life so that it could allow people with knowledge of such fraud to tip off the company, with confidentiality procedures being taken into consideration. After the trend trickled down to some services provided by the BIHL subsidiaries, Setlhare said the Botswana Stock Exchange quoted diversified insurance giant rolled out the service to all their business operations this month.

“There are many reasons why people might choose to turn a blind eye to issues of fraud, bad ethics or non-compliance within an organisation, one being that they worry that whistle blowing might compromise them in their organisation. Resebetse guarantees identity protection,” said Gaffar Hassam, BIHL CEO.

The service works is a way that the person reported would not be directly identified. Rather, Resebetse administrators would carry out an internal investigation, in the affected organisation, until final nabbing of the culprit.

Last modified on Wednesday, 31 July 2013 16:21

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