Checking where and what someone studied is one the basic checks. The CEO of Yahoo lost his job this year because he fudged the degree that he did, not even where he studied. His relevant job experience, former President of Paypal was not enough to save him. It wasn't even Yahoo that spotted the "error", but it made them look bad and despite apologising he went, reputation in tatters over something that 20 years experience wasn't enough overcome. His fudge was claiming an Accounting and Computer science degree, when officially it was only an Accounting degree. He may even have done computing modules, but not enough to be an official minor and not a degree that university officially offered at the time he graduated. So educational establishment checked out, graduated checked out, degree title fail, job lost.
Even if you manage to secure the job, what happens when they ask you to produce your certificates and it does not match up with your CV. If you are lucky, they will accept your explanation, if not, it could be a very short lived job.
The justification that it is a designation that a university currently uses for a department, falls apart if they change the name. Which happens quite often, will you update your CV or LinkedIn profile to continue the fudge?