UBS and Barclays have delayed start dates and withdrawn job offers as firms tighten up background checks after scandals have put more focus on behaviour, according to Bloomberg, citing unnamed sources.

UBS and Barclays have delayed start dates and withdrawn job offers as firms tighten up background checks after scandals have put more focus on behaviour, according to Bloomberg, citing unnamed sources.

Both banks declined to comment to WealthBriefing on the matter.

The report said UBS withdrew a senior London-based hire’s contract this year after checking personal misconduct he disclosed in background checks. The individual had worked at two other banks’ UK offices.

Fines and other punishments for banks over issues such as benchmark rigging and anti-money laundering lapses have hit firms hard, creating a drag on share price performance in some cases. According to the news service, banks have paid or provisioned for at least $119 billion in fines, consumer compensation or settlements.

As reported by this publication recently, the head of the Serious Fraud Office has called for even tougher measures in areas such as bribery and corruption. Other regulators have talked of harsher actions against miscreants.

Within the wealth management industry in particular, an issue that has arisen in recent years over staff has been how to ensure employees respect client privacy; the sector has, such as in Switzerland, seen cases of employees leaking client data, in breach of that country’s fierce confidentiality rules. Another issue that can arise is when bankers embellish resumés, a serious matter when such persons aspire to be "trusted advisors".

A survey, issued in June this year by the Higher Education Degree Datacheck (HEDD,) showed it has become common to alter or embellish qualifications to obtain jobs. HEDD is a government-supported service that checks CVs’ authenticity.