Financial Screening for Safer Hiring

Because occupational fraud strikes unexpectedly.

The Data:

According to The Association of Certified Fraud Examiners

1

U.S. businesses will lose an average of 5 percent of their gross revenues to fraud.

2

42 percent of those who commit occupational fraud were living beyond their means. Candidates with a clean criminal record may still pose a serious threat to your organization if they are carrying massive financial debt.

3

21 percent of fraud cases resulted in losses of $1 million or more.

Ensuring Compliance

Background screening companies are not allowed to divulge credit scores of a candidate for employment purposes per the FCRA. In addition, there are a number of other regulations, that if not observed, can lead to costly litigation. Some of these regulations are to be followed by the background screening provider while others are to be observed by the employer. At Peopletrail, we bear the burdens of both parties, working to ensure our compliance as well as that of our clients. Through knowledge, expertise, education, and diligence to the observance of applicable laws, we have garnered a reputation as one of the most compliance-focused background screening companies in the industry.

Financial Background Checks vs Credit Checks

While a credit score serves as a general financial metric, it tells an incomplete story. In reality, a credit check can be valuable, but not nearly as valuable as a full financial background check. When it comes to financial screening for employment, a credit score is not provided. However, more in-depth information can be found such as:

  • Bankruptcy Information
  • Leins/judgments
  • Past-due balances
  • Percentage of available credit
  • Highest credit extended
  • Balances
  • More

Such information works to paint a full financial picture an important thing when hiring for accounting or other finance management roles. Many providers retrieve surface data and pass it off as a comprehensive report. Peopletrail procures the information you need to make challenging hiring decisions. 

Our Process

1

Receive candidate information.

2

Using this information, we retrieve the necessary financial data from the credit bureaus and civil litigation / insurance repositories.

3

All data is then manually screened and verified by an experienced researcher.

4

If any inconsistencies exist, we will communicate with client and/or candidate, submitting any updates to the bureaus for re-verification.

5

Most financial background checks are completed within one business day.

Why Trust Peopletrail With Your Financial Screening for Employment?

Strict FCRA Compliance
Dedicated Customer Support
Integrated Solutions That Conform to Your Current Workflows
Comprehensive Suite of Solutions
We Are a PBSA Accredited Consumer Reporting Agency

Hire professionally-screened employees and mitigate the risk of fraud within your organization. Peopletrail is here to help you with financial screening for employment, customizing the right solution for your needs.

How can we help?