According to the Global Survey on Reputation Risk by Deloitte, reputation damage is the primary risk concern for business executives around the world so it’s important to make background checks and credit reports a core part of risk management. Credit reporting, strictly governed by the Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau under the terms of the Fair Credit Reporting Act (FCRA), and, oftentimes, a background check is automatically part of the process. In some cases, however, employee consent must be provided. Conducting any type of background check can put a business at risk if the rules of the Equal Employment Opportunity Commission (EEOC) are not followed, but the opportunity to become aware of any questionable issues before allowing an individual into your network can ensure the business is protected against reputational damage.
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