Identity & Financial History

Identity & Financial History With Background Information Group

Identity and financial history background checks can be a valuable addition to your onboarding process if you hire candidates who will be responsible for your company’s resources. Individuals who work in roles that require financial responsibility can have a great impact on your financial status. Not using caution during the hiring process could result in great financial loss.


Our Background Information Group team will expertly walk you through the process of implementing identity and financial history checks in a way that complies with local and state laws.

Hiring Employees With Financial Responsibility

When you hire an individual who will be working in a role that deals with financial information, funds, or assets, it is imperative that you research their qualifications and history. At a minimum, you should verify their previous employment history, eligibility for employment, and criminal history.


However, at Background Information Group, we suggest that any role that requires financial responsibility should also require a financial history background check. Obtaining a more clear picture of how the individual has managed their own finances will provide you with insight into the way they will be able to manage the resources of your organization.

An identity and financial history background check will provide information including the following:


History of Bankruptcies
Accounts in Collection
Tax Liens
Negative Accounts
Active Accounts
Past & Present Loans

A financial history background check may also provide additional address history that can be used to conduct a thorough criminal background check.


More than any other position, it is important that you know that the individual you are hiring for a role with financial responsibility is who they say they are. For this reason, you should always perform a comprehensive identity check in correlation with a financial history background check.


At Background Information Group, we offer customized background check solutions that cater to the needs of your organization, allowing you to find the most qualified candidates to join your team.

Financial Background Check Regulations

It is important to approach financial history background checks for job candidates carefully as this process is not allowed in every state. If you live in a state that allows financial background checks for employment, you are only able to request this information if the position they are applying for directly relates. If the results of the financial check do not impact the decision to hire an individual, the employer should not request this information.


The Fair Credit Reporting Act (FCRA) regulates the access to and use of credit information. However, there may be additional regulations in place regarding this process depending on the state in which you operate your business. Our team of professionals will work with you to determine whether a financial history background check should be performed for incoming applicants.

Types of Financial History Checks


We work with our clients to identify the type of financial history background check that benefits their hiring process. In most cases, employers choose to conduct background checks at the onset of an individual’s employment. Identity and financial history checks are most often requested after a conditional offer for employment.


For organizations that employ individuals with large amounts of financial responsibility, we provide financial history checks on a more regular basis. Conducting annual financial history checks for current employees ensures that they are still eligible for employment in their position. 


It is important to note that the type of financial history check that can be conducted by employers will not display a credit score, it will simply list their financial history. Because of this, your employee will not experience negative consequences if you decide to conduct financial checks on an annual basis.



Benefits of Conducting Identity & Financial History Checks

There are many benefits to conducting identity and financial history checks as a part of your onboarding process. Perhaps the most important way that this type of background check benefits your business is that it acts as an added layer of protection against financial loss and fraud.


No more than ever before, ill-meaning individuals have the ability to forge genuine-looking documents in order to gain employment. Professional background checks are the best way to prevent these individuals from gaining access to financial assets, resources, and information.


Protect your company and gain confidence that you are hiring a trustworthy, qualified candidate to handle the financial aspects of your organization.

How We Help

Background Information Group remains committed to serving each of our customers with attentive, customized business solutions. We partner with employers to pinpoint areas of their interview and hiring process that could benefit from more extensive background checks.


Our team of experts has experience working with a wide variety of industries. We have helped employers across the country implement advanced identity and financial history background checks as a way to further vet the individuals who join their team.


We are dedicated to providing these services with accuracy and speed, always seeking to aid in the success of our clients’ organizations. Contact our team today to discuss how identity and financial history background checks could benefit the success of your company!

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