Description of a Fraud Investigator
Fraud is a growing problem that hurts many people. A fraud investigator is a person whose job involves identifying fraud. Consumer protection, financial industry and forensic accountants are the three types of fraud investigators that there are. Each one requires different skills and educational requirements to be successful.
Consumer Protection Fraud Investigators
Employed by:
- Police departments
- Government agencies
Types of Fraud Investigated:
- Consumer fraud: Email and telephone scams
- Selling counterfeit goods as the authentic ones
- Theft
Special Skills and Education Required:
- No specific educational requirements
- Must be able to communicate effectively
- Work well with others
- Must be able to research and collect information
- A business background would be advantageous
Financial Industry Fraud Investigators
Employed by:
- Government agencies
- Investment firms, usually ones larger in size
- Finance's firms in the fraud detection department
Types of Fraud Investigated:
- Any suspicious activity regarding financial matters
Special Skills and Education Required:
- An accounting or business degree
- Finance, investigation or auditing certification
- Five years of experience working in finances is required, before becoming an investigator
- Background check
- Personality testing
- Must be intelligent
- Must be thorough in researching and collecting information
Forensic Accountants
Employed by:
- Police departments
- Larger accounting firms
Types of Fraud Investigated:
- Makes a detailed analysis regarding audits
- Collection of evidence that is needed at trial
Special Skills and Requirements:
- Must be willing to work long hours
- Must be a certified public accountant, can become a certified fraud examiner with by taking additional courses
- Must be very intelligent
- Must be able to focus on details
- Must be very accurate