It’s all about trust. When a new employee is hired, the employer is placing a certain amount of trust in that person. Trust that that person will perform their job responsibilities of course. But also trust that they will protect the company’s most valuable assets. Nowhere is this more important than at the financial institutions.
One bad hire can cause a lot of damage at any company, but the legal and financial problems he or she can cause at a bank could be astronomical. For that reason, banks have a special duty to vet their new hires. Unlike some companies that run a simple criminal check, most banks run a more comprehensive background check that screens additional sources in their backgrounds.
Employment Screening Resources has more information on this topic and you can read all about it HERE.