Construction
Construction companies have access to a wide range of information that may be desirable to competitors. A company’s intellectual property, as well as corporate banking, are prime objects. Data breaches, along with corporate fraud, reduce profit margins.
Construction business faces many internal risks, such as:
- Data breaches
- Systems malfunction
- Supply chain failure
- Client attrition
- Employee turnover
- Financial losses
FIND OUT HOW WE PROTECT CONSTRUCTION COMPANIES FROM INTERNAL CORPORATE RISKS. LEARN MORE:
Construction companies struggle to safeguard at-risk data and comply with laws and regulations that are applicable to the construction industry. Designs, technology, day-to-day transactions, and client databases will become public without proper internal control.
A construction company can improve internal control through:
- Monitoring
- Compliance with legislative requirements
- Client contracts
- Tender documentation for construction projects
- Projects and estimations
- Information on building sites
- Occupational safety documentation
- Detection
- Purchase of expensive low quality goods
- Communication with competitors
- Purchase of poor-quality materials as a result of bribery, payoffs or negligence
- Illegal business arrangements and corrupt practices
- Communication with ex-employees
- Gamblers, debtors, addicts and other risk groups