What is a certified fraud examiner?

Certified Fraud Examiner

Certified Fraud Examiner (CFE) is a designation that signifies expertise in fraud prevention, detection, and deterrence. CFEs are trained to recognise the warning indicators and red flags that indicate the presence of fraud in an organisation. Certified Fraud Examiner credential was issued by the Association of Certified Fraud Examiners (ACFE) in 1989. The ACFE is an anti-fraud training and education organisation which designed and continually maintains CFE certification.

What is a Certified Fraud Examiner

A Certified fraud examiner in India is in charge of resolving fraud charges, gathering evidence, taking statements, creating reports, testifying about findings, and assisting in the prevention and detection of fraud and white-collar crime. A certified fraud examiner in India is capable of protecting the national economy by detecting fraud and implementing proactive mechanisms in place to prevent it from happening.

Fraud Investigator Certification provides a professional with skills on how to identify and mitigate complex fraud risks encompassing financial transactions, investigation procedures, legal difficulties, and how to deal with fraud claims. A certified fraud examiner course teaches professionals not just how to understand how fraud happens but also why fraud happens. A certified fraud examiner certification helps professionals advance their careers and swiftly establish themselves as a leader in the worldwide anti-fraud community.

A Certified Fraud Examiner Course includes the following subjects

A.Financial Transactions and Fraud Schemes

• What is Fraud
• Fraud Triangle and Types of Frauds
• Basic accounting and auditing theory,
• Fraud schemes,
• Internal strategic controls to prevent fraud and related accounting and auditing issues.

B.Law

• Understanding the legal implications of conducting fraud investigations in different business landscapes.
• Criminal and civil law,
• Rules of evidence,
• Understanding the rights of the accused, accuser, and witnesses.

C.Investigation

• Methodology
• Types of Investigation
• Interviewing witnesses, obtaining statements, extracting information from public documents, tracing criminal activities, analysing dishonesty, and report drafting.

D.Fraud Prevention and Deterrence

• Understanding the reasons why people commit fraud and what are the ways to prevent it.
• Crime causality, white-collar crime, occupational fraud,
• Fraud prevention,
• Fraud risk assessment,
• ACFE Code of Professional Ethics

To operate successfully as a certified fraud examiner, professionals are required to become a member of ACFE, meet the eligibility criteria, pass an exam and obtain the certification.  To be eligible for the CFE certification, an aspirant must have a bachelor’s degree or equivalent in any discipline. They must also have professional expertise in a fraud-related field, including but not limited to auditing, loss prevention, law, and accounting. Before enrolling for a certified fraud examiner course, candidates should have or consider acquiring strong accounting knowledge as well as professional experience. While a CFE certification is not easy to obtain, applicants can prepare for the exam by enrolling in Netrika’s CFE exam course and adhering to a disciplined study plan.