Procurement Fraud in India - A Silent Threat to Businesses
19 May 2025Professional Services
Procurement frauds have become a major hurdle for businesses in India. These fraudulent activities not only lead to financial losses but also erode trust and efficiency in the procurement process. To tackle this issue, it's crucial to understand the nature of these frauds and take proactive steps to prevent them.
Types of Procurement Frauds
- Bid Rigging
- Kickbacks
- False Invoicing
- Conflict of Interest
- Overcharging and Under-delivery
- Phantom Vendors
- Unjustified Sole Sourcing
- Split Purchases
- Duplicate Payments
