Fraudbox™ and the Canadian Health Care Anti-Fraud Association announce launch of 2004 Canadian Health Care Fraud Survey

September 30, 2004 – Fraudbox™ Inc. and the Canadian Health Care Anti-Fraud Association (CHCAA) today announced that they have partnered to launch and manage a groundbreaking research initiative on the issue of health care fraud.

While estimates vary, it is generally accepted that from 5 to 15% of every health care dollar in North America is lost to fraud. In Canada, with approximately $120 billion spent annually on health care, the cost of fraud may surpass $15 billion per year, enough to fund Roy Romanow�s renewed vision of medicare or purchase more than 3700 MRI machines.

�To date, there has not been a comprehensive assessment of the size, extent and characteristics of the health care fraud problem in Canada,� said Michael Chettleburgh, co-founder and chief operating officer of Fraudbox Inc. and the survey�s research director. �In joining forces with the CHCAA, we hope to provide a compelling view of this growing problem and therefore situate it as one requiring immediate attention on the part of both private and public sector players in the health care sector�.

The survey, sponsored by SAS Institute Inc., will be launched at the opening luncheon of the CHCAA�s annual conference, held from September 30 to October 1st, 2004 at the Sheraton Parkway Toronto North Hotel in Richmond Hill. The largest health care fraud conference in the country, this year�s event is expected to attract more than 200 professionals committed to reducing health care fraud.

�Ultimately, we believe that the 2004 Canadian Health Care Fraud Survey will make an important contribution in the improvement of our health care system,� said Joel Alleyne, executive director of the CHCAA. �With a better understanding of the problem, more effective fraud detection and control processes can be established, thereby diverting billions every year to productive purposes�.

Survey results are expected to be released early in 2005. The 2004 Canadian Health Care Fraud Survey will be distributed at the conference.