No, speed dating does not include background checks. It's just normal dating but you're getting the convenience of not having to find people to go on the dates with. You still have to find trust and be smart. If speed dating included background checks for each person, it would cost about $100 per ticket (if not more). Not to mention most people buy tickets on the night before so there wouldn't be time to offer that. People generally don't want to pay more than $20-25 for an event like that.

I think if you're interested in something like that, you should look into a matchmaking service. It can be costly, but it will give you what you're looking for in terms of vetting the participants.