Technology has made it very easy for phony applicants to provide fake documents for loan applications, thus the need for Banks to engage external agencies with forensic skills (like Field Investigation Agencies, Risk Containment Units or Background Verification Companies) has arised.

Although banks have access to Credit Information Bureau (India) database (i.e., Cibil database) it is limited to existing borrowers only, whereas field investigative agencies or background verification companies have been in this business for long and have much more to offer. Their professional expertise helps banks differentiate between genuine customers and fraudsters at the stage of data verification itself.


  • Salary slips, for instance, can be manually or digitally altered to create a favorable impression of the applicant
  • Fake PAN cards — the name may be genuine, but another individual’s photograph is used.
  • Presenting ‘proofs’ of non-existent residences or businesses
  • Incorrect details — like wrong contact details, improper qualification, salary figures and work experience
  • Fake Form 16 statements, bank statements and so on.


Address Verification

Physical visit to candidates (Current / Previous / Permanent) address is done.

Employment verification

Involves checking the veracity of candidates claim about his / her previous employment records with the HR or reporting manager.

Professional Reference

It involves telephonic verification about the candidate’s integrity, behavior and character.

Business Verification

Involves verifying the status of the company (Proprietorship/ Partnership/Private Limited /Limited) through government sources, Income Tax return and Balance Sheet.

Guarantor Address

Physical visit to Guarantor’s (Current / Previous / Permanent) address is done.

Guarantor Source of Income

Involves verifying the guarantor’s source of income documents.

Criminal Record Verification

Is conducted to undisclosed criminal history (if any) of the candidate in the jurisdiction where he / she currently residing or had resided. The verification can be undertaken either through local police station or the district level Commissioners Offices.

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