Lying about pre-uni extracurriculars for springs

A friend of mine who got a BB spring week in London lied on his CV about being his high school’s “President of Banking Society” and completely made everything up from getting 100 members to join, arranging speakers, managing a small team etc. This made me curious - do banks maintain the same rigour in their background checks over extracurriculars from high school as they would do for job experiences/internships?

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