What is a Certified Fraud Examiner? Certified Fraud Examiner (CFE) refers to a credential that the Association of Certified Fraud Examiners (ACFE) awards to competent professionals who meet their high standards. Below explains who the ACFE is and how to become certified fraud examiners. http://www.acfe.com/default.aspx The CFE Credential Those who want to become certified fraud examiners must first meet the basic academic requirement of having a bachelor's degree from an accredited higher education institution. Those who lack a four-year degree may substitute two years of professional experience related to fraud examinations. However, all fraud examiner professionals must have at least two years of direct or indirect experience in the field …show more content…
Topics cover ethics, criminology, financial transactions, the legal elements of fraud and examinations and investigations. The computer-based test only allots 75 seconds per question. To illustrate, the financial transaction section tests the candidate’s knowledge of the various types of fraudulent activities. Candidates must know auditing theories, fraud schemes, internal controls and basic accountancy to pass this section. The fraud investigation section includes questions about interviews, statements, public records and illicit transactions. The fraud deterrence section examines the candidate’s knowledge of why individuals commit fraud and what policies and processes can prevent it. CFE Career Advice Certified fraud examiners may start out their careers working in different positions. For example, an anti-fraud specialist at a bank or financial institution will work with the financial crime prevention team. Anti-fraud specialists will work with risk engagement teams to deliver fraud detection, prevention and response solutions. They must have a solid understanding of financial institution fraud schemes, such as money laundering, and financial crimes, such as identity theft. They must have the CFE credential or the Certified Anti-Money Laundering Specialists (CAMS)