Preventing fraud – a helpful infographic

Fraud is a big problem in the construction industry – but no one ever sees it coming.

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Chris Watson, Partner of Grant Thornton Australia’s Forensic team, says it’s time to put an end to the excuses, and start getting serious about prevention.

Fraud is probably the second oldest profession in the world and will no doubt be among the last.

For some industries, fraud is so entrenched in the way business is done that it is not even recognised as such. This alone would be a worrying enough trend; but when aligned with a lack of awareness or institutional acceptance, then the scale of fraud that blights Australian and global business in this industry should be shocking to us all.

Check out this infographic for more details.

The construction industry is one of those that is most susceptible to fraud in all its incarnations and if you don’t want to be one of those executives to be heard saying “I can’t believe it, they were a trusted employee”, then allow yourself to consider the possibility that fraud can, and almost certainly will, occur in your organisation today and develop a plan to know the unknown.

Chris Watson is a key contributor to the new global fraud commentary report, Time for a new direction: Fighting fraud in construction and the accompanying summary focusing on the Australian industry.