April 22, 2013
When the subject of procurement fraud comes up, the most obvious question is how difficult is it to spot?
But the chances are you have witnessed potential signs of procurement fraud in everyday working life, so look out for those potential ‘red flags’.
It should be noted a red flag is an indicator there may be issues or concern, but doesn’t necessarily mean there is fraud. (more…)
March 25, 2013
We are now well into 2013 and there has already been a number of allegations of procurement fraud around the world. If you were to look at the majority of global corruption cases, there is often a link to the procurement process through bid rigging or manipulation of contract awards.
Procurement fraud is truly a global problem affecting multiple market sectors. Is it on the increase? Or are organisations and law enforcement now more proactive in preventing and prosecuting it? No one really knows. (more…)
January 18, 2013
In 2012 we trained many organisations both in the UK and across the globe on how to mitigate and identify procurement fraud and there has definitely been some consistent themes.
There is still a lack of profile in many boardrooms around the risk procurement fraud presents despite the National Fraud Authority highlighting figures of substantial losses attributed to procurement fraud. (more…)
November 18, 2011
Last week, the Audit Commission released its report into the impact of fraud on local councils. Alarming as the report is – in particular the fact that procurement fraud was the fastest growing element in 2010/11 – I believe fraud by professional procurement officers is still relatively low. (more…)