Contract and procurement fraud is a constant issue in today's world. With government contracts worth possibly hundreds of thousands, if not millions of dollars, the incentive to acquire such contracts can be overwhelming. As a result, some organizations and people will resort to fraud to get these contracts.
Contract fraud is the use of deceipt or trickery to obtain a contract. In a bidding war to obtain a contract, it should be the bidder or organization which offers the best value or the best experience to obtain the contract. When fraud is used, however, back door payments and personal enrichment are used instead. When this happens, everyone loses.
We will spend the next few postings exploring contract and procurement fraud.
Contract fraud is the use of deceipt or trickery to obtain a contract. In a bidding war to obtain a contract, it should be the bidder or organization which offers the best value or the best experience to obtain the contract. When fraud is used, however, back door payments and personal enrichment are used instead. When this happens, everyone loses.
We will spend the next few postings exploring contract and procurement fraud.
NOTE: THE INFORMATION IN THIS BLOG IS NOT LEGAL ADVICE NOR
IS IT INTENDED TO BE LEGAL ADVICE. IF
THE READER HAS ANY LEGAL QUESTIONS, PLEASE REFER TO AN ATTORNEY.
Have a great and fraud-free day.
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tausk
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