Australian Financial Regulatory Checks
In today’s hyper-digital, ecommerce world, it’s not a
matter of “if” a nancial rm will experience internal
fraud, but “when.” Sixty-two percent of Australian senior
executives rank employees as the single greatest
source of risk within their organisations, ahead of
suppliers and contractors.
1
Within the banking and
nancial services industry, one study identied the
median loss of employee fraud incidents at $100,000
based on 386 cases of internal fraud.
2
For these
reasons and others, industry-focused background
checks are required when hiring certain employees
within the nancial services sector.
First Advantage Financial Regulatory Checks can
help nancial rms more easily comply with these
regulations and better protect their business and their
customers from costly losses.
fadv.com.au
Call: +612.9017.4300
Email: info.asia@fadv.com
Visit: fadv.com.au
030922
Hire smarter with industry-specic
insights.
First Advantage Financial Regulatory Checks dig deeper
than standard background checks to reveal relevant
insights specic to the nancial industry. Employers
gain a better understanding of the candidate, their
professional qualications, credentials and behaviour
within the industry, and much more. This supports more
informed hiring decisions, while helping organisations:
Comply with strict industry regulations
Protect the sensitive personal and nancial
information of customers
Mitigate losses due to insider theft and fraud
Reduce the potential for costly litigation, penalties and
nes
Strengthen the integrity of the business and the larger
industry
On the ip side of mitigating risk and noncompliance,
Financial Regulatory Checks can help advance and
grow business by helping organisations better identify
and hire top talent within the industry.
65%
of senior executives in Australia report
that widespread remote working increased
fraud risk.
-2021 KPMG Australia Fraud Survey
Perform the right check, on the right
candidate, at the right time.
Most Financial Regulatory Checks search the databases
of in-country regulatory authorities for information
pertaining to professional licences, credentials,
qualications, training, professional memberships,
disciplinary actions and enforcement actions. However,
some industry verications and reference checks are
performed by directly contacting the source to provide a
more complete history of the candidate.
Financial Regulatory Checks are required for certain
senior, technical and nancially sensitive hires, and
employees who are required to hold a professional
licence in order work in the nancial industry.
Since these checks are required, they should be
integrated early in the hiring and screening process,
before extending an offer of employment to a
candidate.
fadv.com.au
Call: +612.9017.4300
Email: info.asia@fadv.com
Visit: fadv.com.au
We can help. For more information, contact First Advantage today:
First Advantage Australia Financial
Regulatory Checks
To fulll various industry requirements, nancial
regulatory checks are usually performed on senior
management, nancial ofcers, advisors and executives
who are involved with the oversight and management
of nancial services. Below is a list of the nancial
regulatory checks available from First Advantage.
ABA - Conduct Background Check
AFS Authorised Representatives Register
AFS Licensees Register
APRA Disqualied Register
APRA Enforceable Undertakings Register
ASIC Banned & Disqualied Register
ASIC Credit Licensee Register
ASIC Credit Representative Register
ASIC Enforceable Undertakings Register
ASIC Reference Check
Financial Advisers Register
Australian Financial Regulatory Checks
1 https://assets.kpmg/content/dam/kpmg/au/pdf/2021/covid-19-kpmg-fraud-survey-2021-factsheet.pdf
2 https://acfepublic.s3-us-west-2.amazonaws.com/2020-Report-to-the-Nations.pdf