CFE Certification Requirements

What is CFE Certification Requirements?

An aspiring fraud investigator with a professional credential can work in institutions such as banks, hospitals, and private agencies. Your qualification through CFE certification course allows you to investigate credit card, insurance claim, postal, investment, telemarketing, business transactions, and other sorts of fraud.

ACFE Certification also implies that you can:

• Interview the victims, witnesses, and suspects.
• Gather and examine evidence
• Obtain warrants for searches and subpoenas.
• Install surveillance
• Reports must be written.
• Give testimony in court
• Teach others how to spot and avoid fraud.
• Work with law enforcement and prosecutors.
• Use powerful fraud detection technology.

The requirements a professional need to meet to become a Certified Fraud Investigator

The ACFE is the world’s largest anti-fraud body and the premier provider of anti-fraud education and training. The ACFE, with the support of its more than 90,000 members, is minimizing business fraud all over the world and increasing public faith in the profession’s neutrality and honesty.

To gain the CFE certification, a professional must meet the basic requirement as per ACFE certification guidelines.

1. Become a member of the ACFE.

The ACFE allows only associate members to take the CFE exam and receive the associated certificate. You can sign up for the ACFE website and receive various collateral to assist you on your path to become a CFE. Members have access to free webinars, training material discounts, unique job boards, and global networking possibilities.

2. Earn your bachelor’s degree

Most CFEs have a bachelor’s degree, which helps them meet the exam’s minimum requirements. Your degree can be in any subject as long as it is from an authorised university. If you’re still deciding on a degree, think about accounting, finance, economics, law, or cybersecurity. These topics will assist you in preparing for the CFE certification course exam and your future profession as a fraud investigator.

3. Have two years of relevant experience

Professionals on their path of earning the ACFE certification credential must have at least two years of experience in the identification or deterrent of fraud, according to the ACFE. Even if your work responsibilities are not directly related to fraud, the board may consider your experience if they are relevant enough. Work experience that qualifies is an example of:

• Accounting and auditing: Work experience that qualifies involves analysing an organization’s fraud risk, spotting unexpected trends by interpreting financial data, and determining accounting system deficiencies.
• Criminology and sociology: When determining why people commit fraud, individuals in the criminology and sociology professions have unique perspectives.
• Loss prevention: Some ACFE certification course applicants qualify for the exam by utilising their loss prevention experience as security directors or security consultants.
• Law: Many prosecutors and litigators specialise in fraud, which might aid in CFE certification preparation.
• Fraud investigation: You can qualify by assisting private enterprises or municipal, state, or federal agencies in the identification of fraud.

4. Examine the qualification point system

To determine eligible candidates, the ACFE employs a point system. You can apply for the CFE exam if you have at least 40 points. ACFE certification requires at least 50 points and two years of related job experience. Use the tool to calculate your overall number of points and plan for future school or career endeavours. For example, if you have at least two years of fraud-related experience and other professional credentials, you may be eligible even if you don’t have a bachelor’s degree.

5. Prepare for the CFE exam

The CFE certification course exam is divided into the following sections:

• Financial Transactions and Fraud Schemes
• Law
• Investigation
• Fraud Prevention and Deterrence

While your education and job experience can help you gain knowledge in these areas, the ACFE recommends enrolling in the CFE Certification Course. This extensive course has over a thousand study questions to help you prepare for the exam. After completing each question, you will be given the correct answer, a brief explanation, and a reference for further research. The training also includes practise exams that simulate the actual testing atmosphere. The ACFE states that applicants are considered thoroughly prepared for exam after completing the study questions and scoring 85% or above on each practise exam.

Participants in Netrika’s CFE certificate course can improve their professional visibility and reputation while also boosting their marketability and job security abroad. Netrika uses the instructor-led CFE training session to empower professionals and promote awareness for the company in order to reduce potential frauds and reduce the risk of one that has already impacted the corporation.