Fraud Examination

Become A Fraud Examiner

Like the pugnacious Perry Masons of another era, successful fraud examiners are ethical, tenacious, instinctive and adept at interviewing and reading people—and they're not shy about confrontation. These invaluable traits—along with a good head for numbers—are why fraud examiners are also known as financial detectives.

Fraud Examiner in a Nutshell

Fraud examiners are experts in the field of fraud deterrence, detection, prevention and investigation. They specialize in white-collar crimes like occupational fraud, and they expose financial kickbacks and other misappropriations of financial assets.

Most of these experts have previous work experience in fields such as:

• Accounting
• Auditing
• Criminology
• Fraud investigation
• Law
• Law enforcement

Fraud examiners are professional, degree-holding skeptics who can identify the red flags of fraud and easily detect the warning signs of devious behavior. To this end, fraud examiners hone their instincts by always investigating their suspicions.

Education Requirements for Fraud Examiners

Although many fraud examiners get their start on the job as professionals who specialize within their company in fraud cases, most eventually become certified fraud examiners (CFEs). Employers—especially government employers such as the FBI—prefer to hire the services of formally trained CFEs. Federal and state government agencies employ more than 50,000 anti-fraud professionals across the nation, in a variety of fields and contexts.

To become a CFE, you must hold a bachelor's degree in fraud examination, accounting or criminology and have two years of professional fraud experience in one of the fields bulleted above.

Other requirements for becoming a CFE include the following:

• Becoming a member of the Association of Certified Fraud Examiners (ACFE)
• Passing a rigorous four-part CFE examination, as administered by the ACFE
• Meeting continuing education requirements for CFEs
• Agreeing to hold oneself up to a code of professional ethics, as outlined by the ACFE

Day in the Life of a Fraud Examiner

Fraud examiners often enjoy typical 40-hour workweeks in clean, organized office environments, although frequent travel may also be required. Fraud examiners handle one case or multiple cases simultaneously, depending on their individual experience and the complexity of each investigation. On these cases, they may work individually or with a team of other fraud experts.

Because those who strive to commit fraud follow no code of conduct, fraud examiners evaluate each case with a fresh pair of eyes. They are able to see not only the information presented, but also what may be missing or withheld. From there, they conduct thorough employee interviews to find evidence of fraud. They must also have an adept grasp of the legal system as it pertains to fraud. When conclusions are reached about a case, they present their findings to their employers or contractors.

Job Growth for Fraud Examiners

Fraud examiners who hold a fraud examiner degree should experience booming job growth over the coming decades. Scandals like Enron's billion-dollar accounting fraud in 2001 have brought attention to the nation's white-collar fraud problems. This situation is just as likely to affect small companies as it is large multi billion dollar corporations, and it has highlighted the growing need for fraud examiners in many fields.

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