What does a Fraud Investigator do?

Median Pay $69,520
Growth Rate 10%
Citation Retrieved from O*NET OnLine

A fraud investigator reviews evidence and investigates allegations of fraud. Their investigative work may require them to interview those that may have information about the fraud, analyze documentation (paper trails), report their findings, and finally testify what their investigation revealed. Additional titles people in this profession may hold include: fraud examiner, financial investigator, and forensic accountant.

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How to Become a Fraud Investigator

Over 70% of the fraud investigators surveyed reported to hold a bachelor’s degree with just over 10% earning a master’s degree. Some reported having earned a certification after obtaining their bachelor’s degree. A degree in finance can prepare you for a career investigating fraud.

Job Description of a Fraud Investigator

fraud investigator

Let’s look at an actual fraud investigator’s job description posted by the Department of Labor. This job announcement is looking for a Employee Benefit’s Investigator to perform the following tasks:

The incumbent conducts or participates in moderately difficult civil and criminal investigations focusing on the analysis of employee pension and welfare benefit plan operations and the business, financial and accounting practices of a variety of related entities (e.g., bank trust departments, investment managers, insurance companies, and other service providers). In so doing, the incumbent performs a range of activities required to assess the fiduciary conduct and/or criminal actions of plan officials and service providers; and, the appropriateness of financial investment of plan monies, and compliance with the ERISA reporting, disclosure, and bonding standards and the requirements of related civil and criminal Federal and state civil and criminal statutes. regulations, interpretations, administrative and court rulings.

The incumbent independently plans and conducts complex civil and criminal investigations focusing on the analysis of employee pension and welfare benefit plan operations and the business, financial and accounting practices of a variety of related entities (e.g., bank trust departments, investment managers, insurance companies, and other service providers). In so doing, the incumbent performs a range of activities required to: 1) assess the fiduciary conduct and/or criminal actions of plan officials and service providers; 2) determine the appropriateness of investment of plan monies; and, 3) evaluate compliance with the ERISA reporting, disclosure, and bonding standards and the requirements and related civil and criminal Federal and state laws.

This position was posted to run 12/05/2018 until 12/18/2018 with a salary of $70,111 to $109,245 per year on USAjobs.gov, part of the U.S. Office of Personnel Management.

Read a career interview with a fraud investigator.

Article Citations

National Center for O*NET Development. 13-2099.04. O*NET OnLine.