I disagree with this - “we are processing your background...” means that your background check is over.
It is a case-to-case basis and also the VO processing your application. Some will never see this status, some will be stuck for months. I myself received a phone interview from SGVO, not regarding employment or travels but personal matters on my marital status. BGC status was “Not applicable” then. Exactly 8 days after the interview, the status changed to “We are processing..”
According to my GCMS, eligibility passed on the same day of the interview and “Security” (BGC) only started on the day the status changed to IP2 (8 days after interview).
I am PNP-O and updates were only triggered when I informed SGVO of the change of family composition and after uploading spouse’s documents.
I suggest to order GCMS if BGC is taking longer than usual to know the status of your application.
Edit: I backread a few pages and found out most of you in this thread are paper-based. I am an EE applicant, so the changes on the application may not be relevant to most of you.