When the e-wallet major, Paytm uncovered a fraud last year, it had already bore a loss of over Rs. 10crore. An ex-employee who had worked for 2 months for the organisation, was charged under IPC sections related to criminal conspiracy, cheating and violation of Information Technology Act along with five others. This is one of the many cases why employee background check has now become more of a necessity rather than a mere precautionary step while hiring any new candidates.

According to experts, one in every five CVs floating in the job market has some or the other falsified information. While some of this can be a mere exaggeration of skills, some contain completely fabricated credentials, academic records, past work experiences, etc. This is the reason why a thorough background check of a prospective employee is so important in the hiring procedure.

Back in 2012, when R. Nandan, who was working with IBM at a high paying position, was discovered to have used his wife’s academic credentials from an IIM, it brought into light the rampant fraud that is faced by the Indian job market. Had it not been the falling out of their marriage, his fraud wouldn’t have been discovered. Even currently, almost 10% of the existing employees in each industry are guilty of fabricating information and exaggerating their qualifications in their resumes to get hired. Generally when companies hire employees in bulk, these fraudulent candidates manage to sneak into the system while sometimes even the candidates for higher positions in an organisation can lie their way in, as seen in the above case.

Even when the fraud of $4 million by an employee in Wipro surfaced, the company could recover only half the amount and had to face a loss of $2 million by the hands of one fraudulent employee. And the case of Shivraj Puri, a former employee of Citibank who was involved in a fraud of Rs. 400crores, came back in the limelight when he duped a Mumbai based businessman of Rs. 13.15crores when he was out on bail. This is a classic example of how the fraudsters do not disappear, but lay low once discovered, and then commit another fraud.

The above scenarios could have been avoided if a background check of the employee’s credentials, academic records, past experiences could have been done before handing over to them their employment letters. At Employee Crossings, we are dedicated to provide these services with accuracy and diligence to avoid negligent hiring by organisations which can lead to cases like above. From identity checks to court related matters and the past employment of the candidate, we have a step-by-step procedure to verify each piece of information furnished by them. Being in the industry since the last 10 years, we have an extensive clientele of companies across various industries from IT to FMCG to Banks and several other organisations.

We strive to ensure transparent, ethical and fair crossovers of employees from one company to another. We believe that a penny invested today to hire the right employee could save you a fortune in the future.