MARCH 2016
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When unusual signs of wealth signal an issue



 
In this edition of VantagePoints, our director of financial investigations, John Beard, discusses the prevalence of resume fraud. In today's competitive employment climate, it is an unfortunate fact that a large number of applicants choose to inflate - or even flagrantly falsify - their professional resumes.
 
When it comes to screening job candidates, the professionals of ResultQuest® can help you avoid hiring those who misrepresent themselves, thereby saving you potential embarrassment and liability.  
 
We appreciate your feedback about VantagePoints, and hope you will let others in your sphere of association know about our newsletter. As always, we welcome ideas about matters in which you have an interest, which can be sent to news@resultquestinc.com .

J.R.Skaggs
Founder, Owner, and Manager

So he's not who he says he is! Resume Fraud: What it is and How to Combat 
Would you believe that a whopping 53% of resumes and job applications have been embellished with false information? These embellishments cost employers approximately $600 million annually. What happens and what can be done.

Common Lies on Resumes 1
  • Embellish skill set - 57%
  • Embellish responsibilities - 55%
  • Dates of employment - 42%
  • Job Title - 34%
  • Academic degree - 33%
  • Companies worked for - 26%
  • Accolades and awards - 18%
Men lie twice as often as women
What are the reactions from employers?
  • Automatic termination - 51%
  • Depends on the lie - 40%
  • Overlook if they like the person - 7%
The Society for Human Resources Management says that 53% of resumes and job application contain falsifications and that 70% of college student would lie to get the job that they want. 2 These statistics are staggering and depressing.

Prominent Resume Fraudsters 3
  • Frank Abagnale - forged degrees from Harvard and Colombia Universities. Posed as a pediatrician and an airline pilot. Served three prison terms.
  • David Edmondson - former CEO of Radio Shack claimed to have dual degrees in psychology and theology from Pacific Coast Baptist in San Diego, but there is no record of him graduating from there.
  • Marilee Jones - former admissions dean at Massachusetts Institute of Technology claimed she had degrees in biology from Rensselaer Polytechnic Institute and the Albany Medical College and that she held a doctorate. She resigned after officials learned of the fabrications.
  • Ronald Zarrella - former CEO of Bausch Lomb asserted for 10 years that he had an MBA from New York University's business school. He had enrolled in the program but never finished. He resigned and had to return a $1.1 million bonus in 2008.
What are the penalties for perpetrating resume fraud? 4
Criminal Charges - According to the laws of several states, the cardinal sin of resume fraud is falsifying your educational record.

Under the Texas Penal Code, for example, it is illegal to use, or even to just claim to hold, a postsecondary degree you know to be fraudulent, substandard, or fictitious in order to obtain employment. This makes it illegal to either falsely claim you received a degree from an actual, accredited university, or to list a degree from a "diploma mill" (an unaccredited institution that for a flat fee in a short amount of time with little to no coursework). Punishment for resume fraud of this variety varies ...  Read More


 
1 Resume Fraud: The Top 10 Lies - By Christopher T. Marquet, CEO, Marquet International Ltd. and Lisa J.B. Peterson.
2
How often do people tend to lie on resumes? By The Canadian Professional Sales Association 2013
3 Ex-Yahoo CEO Scott Thompson and Seven Other Cases of Resume Fraud -Maureen Mackey The Fiscal Times 2012
4 Lauren Kreps - The Legal Risks of Lying on Your Resume - Shakelaw.com