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Increase in discrepancy rates in BFSI, ITES/BPO, FMCG, Healthcare and Pharma: First Advantage

The highest number of discrepancy cases was recorded in the BFSI sector at 41% followed by IT at 25%. Likewise in Q3-16, total number of cases verified were highest for the BFSI sector.

, ET Bureau|
Last Updated: Dec 27, 2016, 04.08 PM IST
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The highest number of discrepancy cases was recorded in the BFSI sector at 41% followed by IT at 25%. Likewise in Q3-16, total number of cases verified were highest for the BFSI sector.
The highest number of discrepancy cases was recorded in the BFSI sector at 41% followed by IT at 25%. Likewise in Q3-16, total number of cases verified were highest for the BFSI sector.
First Advantage, a Symphony Technology Group (STG) company and provider of screening analytics and identity solutions, announced the release of its trends report, “First Advantage Background Screening Trends Report: India” for the third quarter of 2016.

According to the report, the highest number of discrepancy cases was recorded in the BFSI sector at 41% followed by IT at 25%. Likewise in Q3-16, total number of cases verified were highest for the BFSI sector at 35% followed by IT sector at 29%.

In Q3-16, 78% of the overall discrepancy cases were males and the remaining 22% were females.

The report is based on data collected from background verifications and reference checks conducted by First Advantage across India in Q3 2016. The results of the report are segmented under critical discrepancy types (employment, education, financial-related, address, and database) that examine the discrepancy breakdown by verticals, states, regions, industry, age, and gender.

Among the top six states (Maharashtra, Andhra Pradesh, Karnataka, Tamil Nadu, Uttar Pradesh and New Delhi) Maharashtra recorded the highest discrepancy at 21% followed by Karnataka at 20% and Andhra Pradesh at 13%. Bengaluru, Mumbai and Hyderabad are the metro cities which have topped in employment related discrepancies in Q3-16.Mumbai, New Delh are the cities topping the education related discrepancies in Q3-16.

In Q3-16, 'Incorrect Tenure' has topped the graph at 28%. It is followed by ‘Exit Formalities Not Completed/Absconding' at 19% and ‘Other False Employment' at 17%. Under discrepancies related to education, fake document forms the biggest chunk at 40% in Q3-16 followed by Suspect Institution at 32%. The discrepancy trend for Post Graduate level has increased significantly from 27% in Q2-16 to 30% in Q3-16.

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