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Instances of this type of fraud grow in times of greater competition within the industry, added Brian Sanvidge, principal and leader of the regulatory compliance and investigations group at New York City-based Anchin Accountants & Advisors, which has more than 25 years of experience working with businesses on labor and fraud investigations.

Such fraud hurts reputable construction companies playing by the rules, he added.

“They’re covering their employees on workers’ compensation, they’re doing the withholding from pay, that all flows to their overhead,” Sanvidge said. “A disreputable competitor not doing those things can underbid them on projects. They don’t have the same level of cost.”

Read the full article on Construction Dive