If you’d be interested in utilizing your talents to ensure that justice prevails in fraud investigations, perhaps you might want to become a certified fraud examiner. Although it’s necessary to invest significant amounts of time in gaining the credentials you’ll need to be trusted with high-profile fraud examinations, this is a career path that can be exceptionally lucrative once you’ve established yourself.
According to the Association of Certified Fraud Examiners, the median annual salary is $91,000 for a fraud investigator who is certified. In contrast, the mean annual salary for fraud examiners who are not certified is only $73,000. While that’s not a bad salary overall, you can see that certification easily pays for itself in the long run. So what do you have to do to become a certified fraud examiner? Let’s take a look at the personality traits, education, training and credentials you need to get started in this vocation.
Personality Traits Necessary for Becoming a Certified Fraud Examiner
Nobody wants to put fraudsters in charge of fraud investigations. Staff at the Association of Certified Fraud Examiners insists on only working with individuals who are able to demonstrate high standards for integrity and excellent moral character. Hopefully you haven’t already disqualified yourself by acquiring a criminal record; but if you have, you might as well choose another career. To get certified as a fraud examiner, you’ll need to pass background checks and agree to the association’s code of ethics.
Academic Credentials, Work Experience and Training Necessary
The Association of Certified Fraud Examiners certifies professionals who have obtained either a bachelor’s degree or sufficient expertise as demonstrated by work experience. If you don’t already hold a bachelor’s degree, you’ll need up to eight years’ worth of work experience in fraud prevention or detection to qualify for certification.
A minimum of two years’ worth of professional fraud-related work experience is required for obtaining certification. Some acceptable roles for this experience include attorneys who specialize in fraud litigation, insurance fraud investigators, auditors who specialize in fraud detection and deterrance, loss prevention specialists and security consultants.
Professional Memberships and Licenses Required
You’ll need to become a member of the Association of Certified Fraud Examiners to qualify for your certification. There are some circumstances under which you’ll need a professional license to practice as a certified fraud examiner. If your job description includes performing investigative services to the public, your state or local jurisdictions might require you to get a license. If you’re practicing law and public accountancy, you’re also likely to need a license.
How to Obtain Your Certification
Once you’ve become a member of the ACFE and completed your other membership requirements, it’s time to begin securing professional references and preparing for the CFE exam. Once you’ve studied sufficiently, you can apply to take the exam and hopefully pass it. Passing the exam is a requirement for certification.
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You can be proud of the work you’ll do as a fraud investigator. You’ll be working for the betterment of the society you live in and earning a comfortable living while you do so. Now that you’re endowed with a basic understanding of how to become a certified fraud examiner, you’re in a better position to take action on gaining the credentials you need if you decide to pursue work in this fast-paced specialization.