At the event held on November 22, 2022 with the sponsorship of Business Club5, in cooperation with ICCrA Institute - the Institute for Compliance, Criminal Compliance and Anti-Money Laundering, the WRAP (Whistleblower Reporting App) application was launched to achieve greater efficiency in the organization of business that serves and for detecting and correcting anomalies from the corruption zone, but also for improving work processes, regardless of the size of entities, type of ownership and industries. How important WRAP is today for the Croatian economy and the domino effect we want to innduce in which whistleblowers massively report abuses is explained by ICCrA president Davor Iljkić, who is also the director of the Fraud Prevention Service at the Fund for the Reconstruction of the City of Zagreb, reported poslovni.hr.
Corruption is a vicious circle, and the situation is much worse than you think," claims Iljkić. This is confirmed by the results of the research of the International Association of Certified Fraud Investigators ACFE on the forms and types of fraud from 2014 and 2021, which show that the dominant forms are corruption, embezzlement of funds and fraud with financial reports, with the fact that in year 2014, 40% of detected cases were dicovered through „Good TIP“ or fileing repport (TIP irregularity reports), and nothing has changed even in 2021, where the share of detected frauds based on a report is 42%.
The WRAP platform was born as an idea that integrates Whistlerblower law, then the area of Directive (EU) 2019/1937 of the European Parliament and of the Council on the protection of persons reporting violations of Union law and new obligations in the field of non-financial reporting (ESG) - environmental, social and personnel issues and issues in connection with respect for human rights, the fight against corruption and bribery. .
On that conjuntcion startup qSoft, with headquarters in Zagreb and partner offices in Canada and Switzerland, decided to use the laws to help organizations become more efficient. Instead of just formally fulfilling obligations, a platform was created that in various ways, including a modern version of business intelligence, contributes to organizations with the aim of creating databases from which software analytics generate valuable information, on the basis of which business management can react in time.
In order for company benefit, we have built into the platform risk management, which allows each application to be assessed from the point of view of business impact. In this way, it will be reliably defined whether the application should be dealt with as a priority, because, for example, corruption will be prevented or better results will be achieved in production or sales,says Mrkonjić.
The system, is intended for administrations that run operational businesses. It was created as a combination of analytics and reports, a type of modern BI that as a platform receives data from various sources, while this is a platform that integrates within the system and creates data because employees feel safe and their reports create data that is categorized into information, explained Dražen Mrkonjić
More about the WRAP application at the link.