Fraud, cyber attacks, and security risks continue to plague the construction, engineering and infrastructure sector at high levels, according to senior corporate executives surveyed worldwide for the 2017/18 Kroll Annual Global Fraud & Risk Report.
The survey by the risk solutions provider found that 83% of respondents experienced at least one fraud incident in 2017. Nearly all (93%) reported a cyber incident, and 67% reported some other kind of security incident.
Information theft, loss, or attack was the most prevalent type of fraud experienced in the sector, cited by 33% of respondents, up 15 percentage points from 2016. Regulatory or compliance breach was second on the list, reported by 30% of executives, almost twice the reported incidence in last year’s survey (18%).
Physical theft or loss of intellectual property (IP) was the most prevalent type of security incident, with 43% saying their organizations fell victim to these crimes. “There is a convergence between physical and digital threats, with issues arising from equipment with sensitive data being stolen or lost, for example, or employees with access to highly sensitive information accidentally or intentionally causing a breach,” said Jason Smolanoff, senior managing director and global cyber security practice leader for Kroll.
Related Stories
Codes and Standards | May 8, 2018
Powerhouse coalition builds energy positive buildings
The goal: build buildings that provide more power than they cost to build, run, and demolish.
Codes and Standards | May 7, 2018
Plan advances in Los Angeles for Climate Emergency Mobilization Department
Would oversee efforts to reduce greenhouse gas emissions across the city.
Codes and Standards | May 3, 2018
Data collection, machine learning boost building efficiency
Sensors, software algorithms squeeze out waste.
Codes and Standards | May 2, 2018
Energy Department releases Updated EnergyPlus and OpenStudio building energy modeling tools
The tools can now accept input in epJSON format.
Codes and Standards | May 1, 2018
ASHRAE publishes new energy simulation-aided design standard
Requires building energy modeling during schematic design.
Codes and Standards | Apr 30, 2018
CALGreen projects pre-approved for streamlined LEED v4 requirements
Reduces need to run additional energy models.
Codes and Standards | Apr 26, 2018
New standard supports community resilience
ASTM International guidance supports cost-effective ways to withstand and recover from disasters.
Codes and Standards | Apr 25, 2018
Lessons learned from decades of Superfund cleanups guide contaminated land reuse
Sites repurposed for residential, commercial use, and solar energy generation.
Codes and Standards | Apr 24, 2018
Vibrant downtown core the key for urban multifamily development
Nighttime activity makes the difference.
Codes and Standards | Apr 19, 2018
ILFI launches new Zero Carbon Certification
Offers greater flexibility around project fuel types and offsetting renewables.