How can I become a fraud investigator?

A fraud investigator in the financial sector typically needs a degree in accounting or business.

A fraud investigator is responsible for identifying the fraud. The skills, experience and educational requirements needed to do this job depend on the industry and position. There are three types of fraud investigators: financial sector, forensic accountants and consumer protection.

The financial sector has specialist researchers who are dedicated to this sector. These professionals may be employed in the fraud detection department of a finance firm, a government agency, or a large investment firm. The responsibility of these individuals is to review and investigate suspicious activity. Finance is very complex and requires a lot of knowledge and training to investigate properly.

A fraud investigator may investigate claims of deficiency.

A fraud investigator in this industry usually has a degree in business or accounting, as well as advanced certification in auditing, investigation, and finance. He needs at least five years of experience working in the finance industry to qualify for a position. A background check and personality test are a standard part of the application process for this type of job.

Forensic accountants do the work necessary to provide evidence in a court case.

To get a position as an investigator, you can start with an entry-level position as a financial trader. Learn how the industry works, common business practices and trends. Speak with the Fraud Investigation Manager to find out what kind of experience is required to obtain a position in the Fraud Department.

Forensic accountants work for large accounting firms or law enforcement agencies. They are responsible for providing the detailed analysis and evidence gathering necessary for legal proceedings. These positions require long hours and painstaking work.

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Counterfeiting becomes fraud when an item is purchased with counterfeit bills.

To become a forensic accountant, you must be a certified public accountant. In the US, additional courses are required to obtain the Association of Certified Fraud Examiners’ Certified Fraud Examiner (CFE) designation. The educational requirements and standards are very high and this type of career requires a lot of dedication, intelligence and painstaking work.

Most forensic accountants start their careers as accountants, working in an auditing firm. They gain additional certification while completing a wide range of audit tasks, expanding their role and experience. Someone investigating this type of fraud must be meticulous, detail oriented and very precise.

Fraud investigators also work in consumer protection departments of government agencies and police departments. Consumer fraud includes phone and email scams, counterfeit products sold as legitimate, and theft. When citizens report this type of fraud, they expect a thorough investigation and resolution. These types of investigators are often called upon to provide evidence in criminal trials.

To become this type of investigator, a background in business, private investigation, or research is helpful. The ability to work well with people, gather information and communicate are important skills. There are no specific training or experience requirements for this type of work.

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