HT Image
HT Image

3 in 10 people lie to get a job: research

Such lying is one of the reasons India Inc loses about $40 billion annually through corporate frauds by firm insiders, report Aditya Ghosh & Soubhik Mitra.
By Aditya Ghosh & Soubhik Mitra | Hindustan Times, Mumbai
UPDATED ON JUL 14, 2008 08:36 AM IST

Lies are fast becoming the ladder for India’s corporate climbers. And India Inc is slipping.

Three in every 10 job seekers fake it on their CVs to get a job, reveals at least three recent surveys conducted across the country between January 2007 and March 2008. Dishonesty ranged from inflating salaries and submitting fake certificates, including fudged university mark sheets.

Such lying is one of the reasons India Inc loses about $40 billion (Rs 1.72 lakh crore) annually through corporate frauds by company insiders, according to a survey conducted by India Forensic Research, a background check firm.

"We have seen in the past two years that people who lie on their CVs are more prone to committing larger frauds later," said Ashish Dehade, managing director, west Asia operations, of First Advantage, a US-based multinational background check firm which surveyed 1.5 million cases in the last 15 months.

"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 into their previous jobs."

Infotech giant Tata Consultancy Services does a thorough background check of all recruits within seven days of issuing offer letters.

"Information security is key to our industry. We cannot afford any compromise," said K Ganesan, the company’s vice-president and global head, Talent Acquisition & Academic Interface Programme.

Conventionally restricted to infotech, information technology enabled services, banking and insurance, frauds have more than doubled in the last six months in fast moving consumer goods, retail, health care and travel industries.

One in every three employees in the banking finance, security and insurance (BFSI) sector, every fourth infotech employee and one in every six in the infotech enabled services sector were guilty of misrepresenting or faking education or employment records, revealed the First Advantage survey.

Most frauds were reported at the upper rungs of the ladder. Top (C-level) executives, including board directors and vice-presidents, were responsible for 42 per cent of all frauds committed, revealed a survey conducted by India operations of KPMG Forensic last year.

SHARE THIS ARTICLE ON
app
Close
Adani Group has made the highest offer among the four bidders of <span class='webrupee'>₹</span>31,250 cr for buying DHFL’s entire business.(MINT_PRINT)
Adani Group has made the highest offer among the four bidders of 31,250 cr for buying DHFL’s entire business.(MINT_PRINT)

DHFL resolution: Lenders approve Piramal's bid

PTI, New Delhi
PUBLISHED ON JAN 17, 2021 08:29 PM IST
Piramal's bid received 94 per cent votes as compared to 45 per cent for the US-based Oaktree Capital.
Close
The IPO consists of fresh stocks of up to <span class='webrupee'>₹</span>300 crore and an offer-for-sale of up to 58,40,000 equity shares.(iStock)
The IPO consists of fresh stocks of up to 300 crore and an offer-for-sale of up to 58,40,000 equity shares.(iStock)

Indigo Paints to come up with its IPO on January 20. All you need to know

By hindustantimes.com | Edited by Deepali Sharma, Hindustan Times, New Delhi
PUBLISHED ON JAN 17, 2021 07:16 PM IST
For the initial share sale 1,488- 1,490 has been set as the price band. The public issue would get 1,170.16 crore at the upper end of the price band.
Close
IRFC has fixed the price band for its public issue at <span class='webrupee'>₹</span>25-26 per equity share.(iStock)
IRFC has fixed the price band for its public issue at 25-26 per equity share.(iStock)

Indian Railway Finance Corporation IPO opens tomorrow

Written by Meenakshi Ray
PUBLISHED ON JAN 17, 2021 05:20 PM IST
The Union cabinet had approved listing of five railway companies in April 2017. Four of them have been listed.
Close
The company does not disclose country-specific subscriber numbers. While previously, APV service was bundled with the Prime offering of the e-commerce giant, the latest partnership with Airtel will allow prepaid users of the telecom major to watch APV content as a standalone offering.(Screengrab)
The company does not disclose country-specific subscriber numbers. While previously, APV service was bundled with the Prime offering of the e-commerce giant, the latest partnership with Airtel will allow prepaid users of the telecom major to watch APV content as a standalone offering.(Screengrab)

Amazon Prime Video to continue investing in local content, expanding reach

PTI
PUBLISHED ON JAN 17, 2021 05:05 PM IST
APV, which has recently partnered with Airtel to bring a mobile-only plan (a global first) for Indian users, competes with platforms like Netflix, Disney Hotstar, Zee5 and others in the country.
Close
The petition has contended that the Centre and RBI have failed to protect the interests of the shareholders.(Mint file photo)
The petition has contended that the Centre and RBI have failed to protect the interests of the shareholders.(Mint file photo)

Plea in HC against Lakshmi Vilas Bank-DBS merger

PTI, New Delhi
PUBLISHED ON JAN 17, 2021 04:38 PM IST
The petition in the Delhi High Court has been filed by lawyer Sudhir Kathpalia, who was also a shareholder in Lakshmi Vilas Bank.
Close
WhatsApp users received a notification this month that it was preparing a new privacy policy and terms, and it reserved the right to share some user data with the Facebook app.(REUTERS)
WhatsApp users received a notification this month that it was preparing a new privacy policy and terms, and it reserved the right to share some user data with the Facebook app.(REUTERS)

'Can't read your personal conversation: WhatsApp shares status amid backlash

Written by Poulomi Ghosh
UPDATED ON JAN 17, 2021 03:38 PM IST
Whatsapp said it can't see users' shared location and it doesn't share contacts with Facebook.
Close
Customers taking food delivery at their home or office are paying 13 per cent higher price on the same food and beverages compared to customers who are walking down to restaurants. (Representational Photo)
Customers taking food delivery at their home or office are paying 13 per cent higher price on the same food and beverages compared to customers who are walking down to restaurants. (Representational Photo)

Demand to rationalise GST on food delivery business to 5%

PTI, Kolkata
PUBLISHED ON JAN 17, 2021 02:29 PM IST
Restaurateurs said a high commission of 23-24 per cent by food delivery platforms have turned out to be a pain point even for several months of reopening after lockdown
Close
RBI data throws light on the extent of stress caused by the covid-induced economic slump.(MINT_PRINT)
RBI data throws light on the extent of stress caused by the covid-induced economic slump.(MINT_PRINT)

Indian economy may contract by 25 per cent in current fiscal: Expert

PTI
PUBLISHED ON JAN 17, 2021 02:25 PM IST
The Reserve Bank of India (RBI) has projected the Indian economy to contract 7.5 per cent in the current financial year, while the National Statistical Office (NSO) estimates a contraction of 7.7 per cent.
Close
The sharp accretion in deposits during the year was due to the safe haven appeal of banks.(Aniruddha Chowdhury/Mint)
The sharp accretion in deposits during the year was due to the safe haven appeal of banks.(Aniruddha Chowdhury/Mint)

Bank credit grows 3.2 pc in first nine months of FY21

PTI, Mumbai
PUBLISHED ON JAN 17, 2021 01:48 PM IST
In the fortnight ended March 27, 2020, bank advances stood at 103.72 lakh crore.
Close
People walk past the Bombay Stock Exchange (BSE) building in Mumbai, Monday,(PTI)
People walk past the Bombay Stock Exchange (BSE) building in Mumbai, Monday,(PTI)

Six of top-10 most valued firms add over 1.13 lakh crore

PTI
PUBLISHED ON JAN 17, 2021 10:59 AM IST
Reliance Industries Ltd (RIL), Tata Consultancy Services (TCS), HDFC Bank, Infosys, ICICI Bank and Bharti Airtel were the gainers.
Close
A Deliveroo food delivery scooter drives through a deserted Place Saint Pierre in the city of Toulouse.(AP)
A Deliveroo food delivery scooter drives through a deserted Place Saint Pierre in the city of Toulouse.(AP)

UK's Deliveroo raises $180 million from investors, valued at $7 billion

Reuters
PUBLISHED ON JAN 17, 2021 05:37 AM IST
Deliveroo operates across 12 countries, mostly in western Europe but also in Australia, Hong Kong, Singapore and the United Arab Emirates. It did not state how much each investor had contributed in the latest funding round.
Close
WhatsApp users received a notification this month that it was preparing a new privacy policy and terms, and it reserved the right to share some user data with the Facebook app.(REUTERS)
WhatsApp users received a notification this month that it was preparing a new privacy policy and terms, and it reserved the right to share some user data with the Facebook app.(REUTERS)

WhatsApp defers new policy on info sharing

By HT Correspondent, New Delhi
PUBLISHED ON JAN 16, 2021 11:38 PM IST
WhatsApp cancelled its February 8 deadline for accepting the tweak to its terms of service, involving sharing data with Facebook servers. The platform said it would instead “go to people gradually to review the policy at their own pace before new business options are available on May 15.”
Close
A bitcoin sculpture made from scrap metal is installed outside the BitCluster cryptocurrency mining farm in Norilsk, Russia.(Bloomberg)
A bitcoin sculpture made from scrap metal is installed outside the BitCluster cryptocurrency mining farm in Norilsk, Russia.(Bloomberg)

Bitcoin swings undermine CFO case for converting cash to cryptocurrency

Bloomberg
PUBLISHED ON JAN 16, 2021 09:16 PM IST
Chief financial officers, not generally known as a risk-loving bunch, watched Bitcoin sink more than 25% in a 24-hour period starting Sunday.
Close
Jimmy Tata, the chief credit officer, sold 1,400 shares of the bank held by him in what the lender termed as an "inadvertent trade".(Reuters)
Jimmy Tata, the chief credit officer, sold 1,400 shares of the bank held by him in what the lender termed as an "inadvertent trade".(Reuters)

HDFC Bank penalises its executive for inadvertently selling shares

PTI, Mumbai
PUBLISHED ON JAN 16, 2021 09:01 PM IST
The panel has determined that there was a violation of the Bank's Code and PIT Regulations and imposed a penalty of 10.20 lakh on Tata.
Close
Adani Group chairman Gautam Adani.(Reuters)
Adani Group chairman Gautam Adani.(Reuters)

Adani Group rebuts allegations, says no loan to it turned NPA

PTI, New Delhi
PUBLISHED ON JAN 16, 2021 08:43 PM IST
The ports-to-energy conglomerate said it has built stellar infrastructure assets in the nation adopting prudent corporate governance.
Close
SHARE
Story Saved
OPEN APP