November 10, 2019

Understanding occupational fraud in construction companies and how to prevent it

When most people think of fraud, things like email viruses, phone scams, and stolen credit card information come to mind. While most businesses have implemented safeguards to prevent and detect these external threats, many business owners overlook the potential for occupational fraud — that is, fraud committed internally.

According to a 2018 global study by the Association of Certified Fraud Examiners (ACFE), the construction industry is the ninth most affected industry when it comes to occupational fraud. Luckily, there are ways to spot potential threats and mitigate the risk of this underestimated crime.

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