How to Become a Certified Fraud Examiner: A Step-by-Step Guide for Banking Professionals

Certified Fraud Examiner

Banking experts in fraud detection and prevention can obtain globally recognized CFE accreditation to advance their skills in the field. However, to achieve this credential, a professional must have the required work experience in the field of fraud related activities, relevant skills set, and abide by the rules as per ACFE mandate, before registering for the CFE exam.

While the guidelines to become a certified fraud examiner for banking professionals are clearly stated by ACFE, it is always advisable to be thorough with the guide to obtain the certification. This blog will present a step-by-step guide for banking professionals who are interested in obtaining a CFE certification.Read more.

How to Become a Certified Fraud Examiner

The following are typical professional milestones, while alternative educational and occupational paths may lead to CFE certification:

• It is necessary to have a bachelor’s degree in accounting, business, finance, economics, psychology, sociology, criminal justice, and/or computer science from an authorized college or university. However, all professionals can apply as the ACFE does not require a specialization in any particular field perse. It’s possible for an applicant to pass the ACFE exam without a formal education if they meet the other requirements listed.
• A master’s degree in fraud investigation, forensic accounting, digital forensics, financial crime management, or a similar topic could be obtained in addition to a bachelor’s degree in accounting, finance, banking, insurance, and computer forensics.
• Applicants need to join the Association of Certified Fraud Examiners (ACFE), an organization that offers anti-fraud training, maintains and manages the Certified Fraud Examiner (CFE) credentialing, and creates guidelines for doing efficient fraud investigations. Visit the ACFE or Netrika websites to register for membership and enrol in ACFE courses.
• Professionals can consider enrolling in a qualified body’s CFE Exam Prep Course or CFE Exam Review Course to get ready for the CFE certification exam. Netrika is one such highly revered organization that provides an instructor-led CFE training course to give professionals and businesses the tools and understanding they need to gain their credentials on the first attempt.
• There is an online application process to take the CFE exam. Costs associated with the CFE exam, credentials, experience, character, and a declaration of signature comprise the four parts of the online application. Applicants must provide proof attesting to their training and work history. A recent photo and letter of professional recommendation are also required by ACFE. After completing the application, candidates will get an email confirmation in the next five to seven days. Applications for the CFE exam should be sent at least 30 days prior to the exam date.
• To be eligible for the CFE certificate, take the CFE certification exam within the given period (8 hours spread over 60 days) and receive a passing score of at least 75%.
• ACFE mandates that every candidate who takes the CFE exam must adhere to the Code of Professional Ethics.

Netrika partners with ACFE (Association of Certified Fraud Examiners), the largest anti-fraud investigation body to provide India’s first instructor-led certified CFE (certified fraud examiner) training program. Professionals who enrol in the CFE course gain international recognition and are highly revered in the workplace. It also leads to increased marketability, career stability, and a high pay scale.