According to a report titled 'Workforce Fraud Files H1 FY26' by AuthBridge, more than 10% of job applications in the Banking, Financial Services, and Insurance (BFSI) sector contained misrepresented information, including salary, tenure, and reasons for leaving previous jobs. The report noted that discrepancies in educational qualifications were present in 2.93% of applications, with fake certificates and degrees being prevalent. AuthBridge, which specializes in identity management and background verification, based its findings on data collected from April to September 2025. Ajay Trehan, Founder and CEO of AuthBridge, emphasized the need for BFSI institutions to prioritize strengthening digital and structured address verification processes, especially as the sector experiences rapid hiring due to the growth of digital banking and fintech partnerships. He pointed out that the current verification frameworks have not kept pace with the accelerated hiring trends.