FRAUD INVESTIGATOR CAREER PATH
Fraud is, unfortunately, on the rise along with corresponding increases in technology and cloud-based computing and storage solutions. The fraud investigator career path may involve working for a government agency; a private investigation company; a police department, bank or other financial institution; an insurance company; or even a health care organization.
WHAT ARE THE EDUCATION AND TRAINING REQUIREMENTS TO WORK AS A FRAUD INVESTIGATOR?
Education and experience requirements to work as a fraud investigator vary, depending on the hiring organization. Increasingly, employers prefer to hire people who have earned college degrees in fields such as criminal justice, accounting or business administration — as opposed to candidates with only high school diplomas.
Some states require licensure before someone can work as a fraud investigator. There are also certifications for fraud investigation professionals such as that offered by the Association of Certified Fraud Examiners (ACFE), which can help candidates stand apart from the competition.
Fraud investigators may need to pass physical examinations, drug screenings and background investigations before being hired to conduct investigations. Once hired, most companies provide on-the-job training for fraud investigators’ duties.
WHAT ARE SOME COMMON FRAUD INVESTIGATORS’ RESPONSIBILITIES?
Fraud investigators’ duties depend largely on the type(s) of fraud they investigate for their employers. Generally, this role is responsible for managing every aspect of the investigations process.
Specific responsibilities often include the following:
- Investigating claims and reports of fraudulent activity
- Communicating with clients and other key parties
- Conducting research online, in court records and in public records
- Reviewing and analyzing transaction details
- Holding interviews
- Collecting and organizing evidence
- Preparing reports to document findings
- Communicating with prosecutors and attorneys general
- Testifying in court
WHY CHOOSE THE FRAUD INVESTIGATOR CAREER PATH?
The fraud investigator career path can be ideal for people who are detail-oriented and inquisitive. Fraud investigators typically manage the entire investigations process from start to finish, which can be satisfying. Depending on the employer and type of investigations being conducted, investigators may work in a traditional office setting or spend a significant amount of time outside the office conducting interviews and tracking data and evidence.
This career also offers competitive compensation. The median U.S.-based fraud investigator’s salary as of May 2019 was $50,510.
A CRIMINAL JUSTICE DEGREE CAN PREPARE YOU TO WORK AS A FRAUD INVESTIGATOR
Earning a criminal justice degree can help you start on the fraud investigator career path, if this role interests you. MacCormac College’s criminal justice degree program provides skills-based and classroom training designed to help graduates succeed in a variety of criminal justice careers.
In this two-year program, available on campus in the heart of Chicago or online from the comfort of your home, you will gain the knowledge and skills needed to tackle fraud investigators’ responsibilities including applying forensic methods to investigating and analyzing information. Earning your criminal justice degree will demonstrate to prospective employers that you understand the law and U.S. criminal justice framework, and that you are committed to a career in fraud investigations.