It turns out that a lot of Indian service firms are coming to the same conclusion.
It's possibly an inevitable side-effect of a booming industry, but apparently a lot of people in India are padding their resumes, or out right fabricating their professional credentials. An associate of mine sent me this link recently, to an article in Rediff:
TCS pink slip to techies with fudged CVs
The article describes verification checks put in place by TCS, Infosys, and Satyam, among others. Here's a brief excerpt:
One in every four CVs received by the IT services firm has some kind of discrepancies.
The article describes verification steps around what people write about themselves in their resumes. That's a little different than US criminal background checks, or credit checks, but it is a good indicator of dissimilitude if not outright malfeasance.
It's a short article, and definitely worth a read.