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News Reports |
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| 3 in 10 people lie to get a job |
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Aditya Ghosh & Soubhik Mitra / Hindustan Times / July 14, 2008
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| Lies are fast becoming the ladder for India's corporate climbers. And India Inc is slipping. Three in every 10 job-seekers lie to prospective employers about themselves; reveal three all-India surveys carried out between January 2007 and March 2008. The dishonesty ranges from lying in resumes and inflating current salaries to submitting fake certificates, including fudged university mark sheets. |
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| This dishonesty contributes, directly or indirectly, to India Inc losing an estimated $40 billion (Rs 1.72 lakh crore) annually through corporate fraud carried out by company insiders, says a survey by background check firm India Forensic Research. |
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| "Recently six employees of a multinational bank committed a major credit card scam. It was found that all six had lied on their CVs about their employment record. In fact, all six had lied even to get their previous jobs!" |
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| Infotech giant TCS runs background checks on all recruits within seven days of issuing offer letters. "Information security is key to our industry we cannot afford any compromises," said K. Ganesan, company vice president. |
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| Corporate fraud has conventionally been restricted to IT and IT-enabled services, banking and insurance. Recently, however, the incidence of fraud has more than doubled in the fast moving consumer goods, retail, healthcare and travel industries, the surveys show. |
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| Telling Figures |
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| Every 3rd employee in banking and insurance, every 4th employee in IT, every 6th employee in ITES faked CVs, shows the First Advantage survey. |
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| 42% of corporate fraud was committed by top management, including directors and VPs, shows a survey done by Indian operations of KPMG Forensic last year. |
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| $40 billion is India Incs loss due to insider fraud; background check industry is worth Rs 75 cr. Firms fear terrorists infiltrating organizations. |
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