In Part 3 of this special 3-episode series, we explore how Venice created the first modern hotline and whistleblower reporting system. Whistleblower and hotline reporting systems in compliance programs are crucial tools for organizations, providing a confidential platform for employees to report misconduct. Fox emphasizes the value of using an external hotline system, which offers an additional layer of anonymity and impartiality and can bring specialized expertise that may be difficult to match within an organization.

He also highlights the role of hotlines in collecting detailed information, which can provide greater insight into situations and help protect companies from accusations of negligence or wrongdoing. Fox underscores the need for hotlines to inspire employee confidence, offer on-demand support from subject matter experts, and provide in-built litigation support and avoidance tools. Join Tom Fox in this episode of the Compliance Lessons from Venice podcast to delve deeper into the significance of hotline reporting systems in compliance programs.