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AFSA Bankruptcy Check
Multi-industry
What the check is?
A search of the National Personal Insolvency Index which lists individuals who are currently bankrupt, have been bankrupt, or have entered into debt or personal insolvency agreements.
What the value is?
Reduces financial risk when hiring for roles with access to money, assets or financial decision making.
What does it check?
The Australian Financial Security Authority register for any bankruptcy or insolvency history.
Why do you do it?
Gives a clearer picture of a candidate’s financial history and potential risks for roles involving financial responsibility, fiduciary duties or access to sensitive financial data. Helps protect your organisation from fraud, mismanagement or non-compliance.
How often does it need to be checked?
Point in time, usually pre-employment. For high-risk roles some organisations recheck periodically.
Is this industry specific? If yes, what industries?
Financial services; banking and insurance; legal and compliance roles; government with security clearances; executive and directorship positions.
Risk of not doing it?
You may appoint someone under financial restriction or stress, exposing your business to fraud, poor decisions and reputational damage.
