Fraud Mitigation has gained a lot of popularity over the years as the number of fraudulent individuals keeps increasing with each passing year. As per reports collated by the Federal Trade Commission, 4.8 million Identity theft frauds took place in 2019.
Screening any candidate before he/ she is recruited reduces the chances of a bad hire infiltrating your firm. The reason people misrepresent themselves is because it is easy to get away with it.
There are multiple background verification check services that can be conducted on any candidate. Some of which are Criminal Background Verifications, Identity Checks, Credit Score checks, Employment Checks, Court Record Checks, Social Media Checks, Drug Checks.
In Criminal Background checks done on employees, the Human Resource Executives must carry out their screenings in compliance with the Equal Employment Opportunity Commission’s guidelines. A review of its current practices will assist all HR professionals in selecting the most ideal applicant. When it comes to blue-collar jobs where people engage in physical labour such as those of delivery executives, construction workers, hospitality staff, plant operators, fire-fighters and the like, identity proofs are screened. Their ID proofs are sent over to the District Superintendent of Police who goes over their records and then sends back a report. Past employers are also a source of reference and can be contacted to find out more about the individual. Sometimes, a field agent physically visits the residential address of the candidate to ascertain his address. Once all these processes are completed, a final report is sent to the client so that he/she can arrive at a decision in terms of hiring.
Education background checks protect a firm against degree frauds. Embellished resumes, fictitious degrees and fake mark sheets are commonplace as the number of fake institutes that offer such documents in exchange of cash has mushroomed. Accredited Academic Boards such as University Grants Commission (UGC) and Council of Boards of School Education in India (COBSE) are two such bodies. They have an approved list of the universities and colleges and any academic institution that does not feature in either of the lists will not be considered a credible academic institution. For Distance Education related queries, there is a separate Board that is cross checked with. Letterheads from some of these universities are taken so as to determine the genuineness of the degrees issued. A census that took place in 2017 by the Economic Times revealed that there are currently more than 2600 fake academic agencies operating worldwide.
For Court Record Checks, the District, Supreme as well as the High Courts are cross checked with. Court Records reveal all criminal antecedents that may have been covered up through extortion or other illegal means. These screenings are carried out together with topmost law firms registered with the Bar Council of India. Court Background checks are conducted through comprehensive lawsuit findings of those court records that link criminal or the civil cases. Both organized and the non-organized crimes have to be checked for here. The eventual call regarding hiring is taken only after an expansive appraisal of all criminal background screenings.
Social Media background check can reveal crucial information about an individual that cannot be gathered from the traditional sources of data. It is important for us to know about the facets that may be considered baseless when it comes to social media checks. One cannot discriminate against any applicant on the basis of his/her medical history, religious beliefs, age, gender or nationality. If however, a company singles out an applicant on grounds of any of these, they could be enmeshed in serious legal trouble. A thorough assessment of the individual’s social media posts indicates how the individual presents himself or herself in public light. Taking in violent or immoral candidates can have negative implications on the other employees as well. Any legal firm would be wary of hiring candidates who openly brag about breaches that he/ she has committed. A fast food joint would be in two minds regarding hiring someone who openly criticizes fast food chains.
For the BFSI sector (banking, financial services and insurance), as a background check company, we usually check the CIBIL/Credit Score. We also look at bank statements for the last few months. We then prepare a report and state details of any financial discrepancies that may have taken place. Few examples of such discrepancies would be an evasion of taxes, untimely payments, withdrawal and influx of massive amounts of cash, not clearing one’s dues in terms of prior loans. We also go over Form 16 to get insights into their Income Tax records. Once the history of the applicant gets generated, a call is then taken regarding the amount of loan that can be issued to him/ her.
Millow is India's trusted background verification company. We leverage our proprietary technology & stringent processes to provide you BGV reports in the shortest amount of time. If you need to get your employees, vendors, business partners, loan applicants, or even yourself/profile verified do contact us on:
Contact: 011 41219183