Procurement fraud is an official business definition of any kind of fraud or wrong doing that takes place during the procurement process. This can include any type of deception or misconduct that is intended to defraud or deceive a company or organization. This could include bid-rigging, bribery, price-fixing, kick-backs, or any other type of illegal activity. Most of the time, these fraudulent activities are done to influence the outcome of the procurement process, allowing the person or organization who committed the crime to gain a financial or other advantage. Procurement fraud can be very costly for a business and can result in serious consequences, including criminal charges and financial losses. It is important for businesses to understand the risks associated with procurement fraud and to take steps to prevent it from happening. This includes implementing policies and procedures to ensure that the procurement process is conducted in an honest and ethical manner