Three-Quarters of Construction Companies Experience Fraud
New York -- 75% of construction, engineering, and infrastructure companies have experienced fraud in the past year. This is the second highest of any other sector, following only retail.
The most common type of fraud is theft of physical assets or stock, experienced by 36% of construction companies. While 24% of construction companies had experienced vendor, supplier, or procurement fraud.
Construction's exposure to fraud has increased in the past year, according to 92% of respondents. The biggest drivers of the fraud is high staff turnover and entry to new, riskier markets. It was also found that 32% of companies said that a senior executive was involved in the fraud.
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