Has Fraud Corrupted Your Supply Contracts?

Has fraud corrupted your supply contracts? If your business solicits bids for goods or service contracts, there’s a risk that employees will solicit or accept kickbacks to favor certain vendors. Or, they might steer a bid to a vendor based on their personal ties to the company’s owner or employees. Here’s how to prevent this unethical — if not illegal — behavior from corrupting your business’s purchasing process. Kickbacks leave traces Kickback recipients accept bribes to steer business to certain vendors. Although kickbacks are common in some industries, they’re unethical and can severely damage a business’s reputation, cost you more than buying the same goods or services from other vendors and lead to legal entanglements. Fortunately, you can spot kickback activity if you know what to look for....