News

Construction fraud costs clients and contractors billions

Story for CM? Get in touch via email: [email protected]

Comments

  1. Once again another report indicating the prevalence of fraud and corruption in the construction sector. I have read the Grant Thornton International report. It is a pity they limited it to the western countries. Inclusion of a typical developing country like Zambia would have been most welcome as it would highlighted even new areas in fraud and corruption.
    I still insist that only the introduction of regular technical auditing will reduce fraud, corruption and mismanagement of the sector particularly in the developing countries.

  2. Dear Bwalya
    While you are right about the link of poor contract management to corruption and fraud, unfortunately you are wrong about its presence limited to developing countries. In matured economies and in big mining companies especially such practices are rife at all levels but somehow condone or even covered up for fears of public outrage and its impact on share prices. Corrective actions are always hush hush and come too late – another reason why the same culprits carry on in their next gigs even when caught out. The more things change the more they remain the same.

Comments are closed.

Latest articles in News