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  • Fraud Investigator

Fraud Investigator

Introduction

Do you enjoy solving problems? Do you enjoy researching and producing reports? If the answer is “yes” then a career as a Fraud Investigator is for you!

As a Fraud Investigator, you will be looking at cases where they may be fraudulent activities.

You might be looking or researching into any evidence of fraud and then make a report on your findings.

Also known as

  • Fraud Examiners
  • Fraud Analyst

Work Activities

As a Fraud Investigator, you will be looking at fraud claims for your company.

Different types of fraud include:

  • identity fraud - this is when criminals steal your identity in order to gain access to your personal finance
  • online fraud - this happens when criminals gain access to your personal online details
  • corporate fraud - this is when businesses and their information are targeted by criminals

Firstly, you would look at the case and do some primary research into whether it is a case of fraud.

If you find that there is a case of fraud, then you may have to go and find some evidence. You need to be confident as you may have to conduct interviews with witnesses or the person who has been accused of fraudulent activities. You will also look at company records.

You will then produce a report of the case to conclude whether the case is fraudulent.

Your duties could include:

  • investigating allegations of fraud
  • conducting interviews of witnesses
  • gathering evidence
  • producing reports

You may be required to do a course in counter fraud which is available at The Chartered Institute of Public Finance and Accountancy. A DBS check may also be required by some employers.

Counter fraud is also a course offered by Peter Darby Associates.

Some Fraud Investigators are self-employed or you could work for a company in your local area.

Being able to read, write and speak Welsh may be an advantage when you’re looking for work in Wales.

Personal Qualities and Skills

To become a Fraud Investigator, you will need:

  • strong communication skills
  • IT skills
  • high attention to detail
  • to be confident and trustworthy
  • good organisation skills
  • to be able to work under pressure
  • strong decision making skills

Pay and Opportunities

Pay

These pay rates are approximate:

  • Starting: £18,000 - £19,500
  • With experience: £21,500 - £25,000
  • Senior Fraud Investigators earn £27,500 - £30,500

Hours of work

You will usually work 37.5 hours a week, which you are likely to be working evenings, weekends and bank holidays if needed.

As a self-employed Fraud Investigator, you can choose your hours but need to fit them around your clients' availability.

Where could I work?

Employers could include Fraud Investigator agencies. You could also be self-employed and work your own hours.

Where are vacancies advertised?

Vacancies are advertised in local newspapers, on agency websites, on Find a Job and at Jobcentre Plus.

Entry Routes and Training

Entry routes

You do not need necessarily need a degree to become a Fraud Investigator. However, you could take a relevant degree such as fraud investigation or counter fraud and criminal justice studies to give you more experience.

A great way to get into this career is through an internship. Take a look at our information article 'Internships', for more details.

Alternate Route

You could take a BTEC, HND or HNC course in counter fraud if you would like to have a qualification in this career

Work Experience

Some entrants have the relevant experience as a Fraud Investigator. Previous experience within a law or regulation environment will help you get into this career.

Training

You may be required to do a course in counter fraud which is available at The Chartered Institute of Public Finance and Accountancy. A DBS check may also be required by some employers.

Counter fraud is also a course offered by Peter Darby Associates.

Qualifications

To become a Fraud Investigator, you will need:

  • 5 GCSEs graded A*-C or 9-4 in maths and English
  • 2 A levels in a relevant subject such as business studies or maths.

An Intermediate Level Apprenticeship  is also great place to start. To get onto an Intermediate Level Apprenticeship, you’ll usually need at least 2 GCSEs at grade C/4 or above, possibly including English and maths.

Further Information

Apprenticeships: Get In. Go Far

National Apprenticeship Service (NAS)

Tel: 0800 015 0400

Email: nationalhelpdesk@findapprenticeship.service.gov.uk

Website: www.apprenticeships.org.uk

Association of British Investigators (ABI)

Address: 295-297 Church Street, Blackpool, Lancashire FY1 3PJ

Tel: 01253 297502

Email: info@theabi.org.uk

Website: www.theabi.org.uk

Careers Wales - Welsh Apprenticeships

Tel: 0800 028 4844

Website: ams.careerswales.com/

The Chartered Institute Of Public Finance and Accountancy

Email: customerservices@cipfa.org

Website: www.cipfa.org/qualifications/counter-fraud

Peter Darby Associates

Email: peter@pdacounterfraud.co.uk

Website: pdacounterfraud.co.uk/

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