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Thought Leadership

Fraud, Forgery and Outright Theft: Strategies to Protect Project Funds

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Theft comes in all shapes and sizes. Employees, vendors and subcontractors—even those a contractor has worked with for years—can act unscrupulously and even illegally to siphon money from a company. From falsifying invoices to funneling money to phantom companies, people with ill intentions are creative in figuring out ways to defraud. Contractors have to remain vigilant to detect when fraud or theft is occurring and to set up procedures to regularly assess their operating systems for vulnerabilities. Knowing the ways in which fraud commonly occurs in the construction industry is an important first step to reducing risk.


Joshua B. Levy