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Anthony points us to a great article by Forbes noting the top "exagerations" in resume writing these days. 

Considering that a résumé is usually a single sheet of paper, there are surprisingly many opportunities for yarn-spinning. Recent college grads will raise their grade point averages or claim honors they didn't receive, says Bermont. And some people blur the line between familiarity and proficiency when it comes to technical expertise, such as knowledge of software programs, Todd Bermont, author of 10 Insider Secrets to a Winning Job Search (Amazon) says.

Here's the complete list (no lie):

1. Lying about getting your degree
2. Playing with (or hiding) dates
3. Exaggerating numbers (c'mon, did you really increase sales of a $2Billion company by 300%?)
4. Increasing previous salary
5. Inflating Titles
6. Lying about technical abilities
7. Claiming language fluency
8. Providing a fake address
9. Padding Grade Point Averages

Although I see a lot of "grey area" on resumes, I don't know exactly how common it is for people to outright lie (of course, because they're trying to hide it).

I do know that there is really nothing more valuable than a good, face-to-face interview combined with some good background checking.

These functions, by the way, are something your recruiter could do for you, if you arrange it.  Many of them already have the tools in-house.  Ask them about fees, etc. If they're already working for you on your searches, the fee may be included in your bill-rate or finder's fee. 

Otherwise, if you found a few candidates on your own that you want checked out, ask your recruiter if they could run background checks and references for you, and see what that would cost.