This study examines the effectiveness of whistle-blowing as a fraud prevention strategy. Using the survey method of data gathering, a total of eighty (80) copies of likert-scale questionnaire were distributed to respondents. A total of seventy (70) copies of questionnaire were retrieved for the purpose of data analyses using chi-square, to test our hypotheses. Our study reveals that whistle-blowing is a good fraud prevention strategy, the public has a positive perception towards whistle-blowing and that there is protection for whistle-blower in Nigeria. It is therefore recommended that whistle-blowing be encourage and given the needed legal teething in Nigeria in order to serve as catalyst for fraud prevention