Fraud and corruption could suck around £10bn a year out of the UK’s infrastructure drive, it has ben claimed.
Accountancy firm Crowe said that between 2% and 10% of the £100bn-a-year infrastructure drive could be lost to bribery, fraud and collusion.
The firm said the construction sector is particularly prone to fraud and corruption, particularly where large publicly-funded projects are concerned.
“It is recognised that corruption in the construction sector is common,” said Jim Gee, head of counter-fraud services at Crowe. “It’s there, it’s real and it’s something that, unless something is done, will cost taxpayers a lot of money.”
