Well, to be honest, I have never seen proof of anyone's College Degree other than mine, my wife's and my daughter's. I will say, as someone who worked in the same industry in the same city for 46 years in recent years I have seen more than one biography from someone who worked here previously that contained information that I knew was completely incorrect. Not much point in questioning it though.
I am probably not the best person to ask about PhDs. We had a very unfortunate situation when I was in College where an Instructor with only a BA, but 30 years experience in his field, was forced out because the University only wanted only people with PhD's. A very nice guy got hired who had ZERO experience outside the academic world. A couple of us in his Journalism class had more real world experience in Journalism than he did.