Construction fraud refers to any fraudulent activity that occurs in the construction industry. This can include a wide range of activities, such as:
- Bid rigging: Manipulating the bidding process to secure a contract for a specific contractor.
- Kickbacks: Paying or receiving a fee or other form of compensation in exchange for securing a contract or other benefit.
- False billing: Submitting false or inflated invoices for goods or services that were not provided.
- Substandard work: Providing substandard materials or workmanship that does not meet the required standards.
- Unlicensed contracting: Performing contracting work without a valid license.
Construction fraud can have serious consequences, including financial losses, legal problems, and damage to a company’s reputation. It is important to be vigilant against fraud and to report any suspicious activity to the appropriate authorities.