Construction Industry Second Highest Fraud Rate of All Industries

Nine in 10 respondents in the construction industry say their exposure to fraud has increased in the last year

November 24, 2015

Business Wire

A 2015 Kroll Global Fraud Report indicated that 75% of construction, engineering and infrastructure companies have experienced a fraud incident in the past year. In addition, 92% of construction industry respondents said their exposure to fraud has increased in the last year.

The construction industry has the second highest incidence rate of any sector after the retail industry and has experienced the highest increase in fraud exposure of any sector.

The most common fraud types the sector experienced were:

Theft of physical assets or stock (36% of construction companies experienced)
Vendor, supplier or procurement fraud (24%)
Regulatory or compliance breach fraud (18%)

(more on the increase of fraud in the construction industry...)

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