It’s a question with plenty of murky answers: How many employers run employee background checks?
Depending on your source, you’ll get a variety of ‘statistics (although their validity is also a bit murky):
Here’s the deal, though. Nearly everyone in the hiring, human resources and background screening industries agree on one fact: 100% of applicants who wish to work in, around, near, or with money and finances should have a full (not just criminal) background check.
Why? There are a few good reasons.
One – The Federal Deposit Insurance Corporation (FDIC) requires it. Any insured depository institutions much check is candidates have been convicted of criminal offenses involving dishonesty, money laundering, or other breach of trust.
Two – Know Your Customer. These laws are on the books to prevent money laundering, which, according to this Thomson Reuters article, account for 3.6% of Gross Domestic Product in 2009. That’s alotta cash in criminals’ hands.
Three – Ummm…. would you want your money stored at a place that didn’t know if it’s employees were untrustworthy? It’s pretty enticing to siphon off thousands of dollars from people’s trusts like this couple did.
We could go on, but we think you get the idea. It’s your money and where you store it or use it should be protected from devious employees. Employers – it’s your responsibility to ensure the people you hire will protect our money. It could be our life savings, retirement funds, future college payments, or the family trip we’ve been dreaming of for decades.
For these reasons, Active Screening has developed a comprehensive, top-of-the-line financial employee screening process that conforms to all federal mandates, including, but not limited to:
- US Patriot Act
- Sarbanes Oxley mandates
We believe that your employees’ past matters, and we’re here to help you find the best people for the job. Our turnaround time is exemplary, but we are not a data-churner. Here is just a small sampling of what we’ll cover in a financial services background check:
- Identity &Credit
- Driver’s Records
- Criminal Records
- References & Credentialing
- Substance Abuse Testing
We love this piece of advice from Finance & Commerce: Ignore websites that promise thorough, instantaneous background checks. Many such sites are set up only to harvest user data and will provide only background information readily available to the general public.
Don’t become a victim of employee fraud, identity theft, embezzlement or other financial crime. Active Screening can help you protect your business and your clients by running thorough background checks. Give us a call today at 1-800-319-5580.