RSS feedsKPMG's Global Construction Survey 2007 has found that a fifth of all construction companies' clients claim to have fallen victim to fraud on recent projects.
The firm found that 20% of clients - government agencies, private developers and retail groups - were aware of fraudulent activity as part of the delivery of recent projects.
KPMG head of construction Richard Whittington said that he had been taken aback by the scale of the problem.
‘The fact that one fifth of all respondents indicated that they had been aware of fraudulent activity during recent projects gives grave cause for concern, particularly as this is an issue which can have severe consequences, both financial and on a firm's reputation,’ he said.
Further reading:
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Accounting scandal wipes £11m off McAlpine's books
Companies in denial on fraud
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