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
| May 10, 2012
Resilience should be considered a sustainability factor
Since a sustainable building is one you don't have to rebuild, some building sustainability experts believe adding points for "resilience" to storms and earthquakes to the LEED sustainability rating tool makes sense.
| May 10, 2012
University of Michigan research project pushes envelope on green design
A research project underway at the University of Michigan will test the potential of intelligent building envelopes that are capable of monitoring weather, daylight, and occupant use to manage heating, cooling, and lighting.
| May 10, 2012
Fire suppression agents go greener
Environmental sensitivity is helping to drive adoption of new fire suppression agents.
| May 10, 2012
Industry groups urge Congress to leave contracting decisions to agencies
An organization of several industry groups urged Congress to leave many contracting decisions to the discretion of individual agencies by avoiding blanket mandates.
| May 10, 2012
OSHA proposes new rule to have employers find and fix hazards
The Occupational Safety and Health Administration has proposed a new regulation, Injury and Illness Prevention Program, or I2P2, which would compel employers to find and fix safety hazards.
| May 3, 2012
Stay current on green codes at AGC Environmental Conference
Keep abreast of market trends such as 2012 changes to green standards and codes at the AGC Contractors Environmental Conference, June 7-8, 2012 in Arlington, Va.
| May 3, 2012
OSHA reduces fines in Cincinnati casino collapse
The Occupational Safety and Health Administration has reduced the number of violations from four to two against four firms it cited earlier this month in the collapse of a casino under construction in Cincinnati.
| May 3, 2012
New York City implements controversial crane licensing requirements
New York City officials announced strict new licensing and testing requirements for all crane operators in New York City to raise safety standards.
| May 3, 2012
Green-roof requirement now includes industrial facilities in Toronto
A mandate that requires installation of green roofs on new commercial and residential buildings in Toronto has been expanded to include industrial facilities.