Hello everyone,
I work with the HR of a multinational bank that hires from other countries as well as Singpaore. I conduct hundreds of background checks all the time. Previously I worked with one of the background check companies and I know how they are making easy money.

For starters, several facts in Singapore are impossible to verify. eg credit checks, criminal history, arrest record, etc. My comany charged 500$ to merely check the IPTO bankruptcy records. We could check these records for free. We never could check if a guy had been arrested in Singapore. Yet banks were happy to pay us 500$ to check. Same for loan and repayment records of an applicant.

Even previous employers did not always respond or respond with relevant details.

To cut a long story shot, save money. Background check companies are not worth the money. You can check for yourself if your employees are backrupt. Other details can never be checked properly. Go with your gut, not with an overpriced agency.