What it Takes to Get Into a Fraud Investigator Job

What it Takes to Get a Fraud Investigator Job?
In this video, I delve into crucial insights for those aiming to land a job as a Fraud Investigator. I'm joined by Zan Arif, who currently serves as a Fraud Investigator. Together, we discuss the role's daily tasks, its place within the broader financial crime team structure, and other vital insights for those interested in or applying for the Fraud Investigator position.
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▬▬ CHAPTERS ▬▬
00:00 - Intro on Fraud Investigator Job
01:35 - Topics to cover during your interview
02:53 - Qualifications and background of a Fraud Investigator
04:21 - Software and application used by Fraud Investigators
06:24 - Fraud Investigator Pros & Cons
09:18 - Fraud Investigator Salary range
10:04 - Career progression
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DISCLAIMER:
This video is intended for general informational or entertainment purposes only. The views and opinions expressed in this video are those of the author and do not necessarily reflect the original policy or position of people, institutions, or organizations that the owner may or may not be associated with in professional or personal capacity, unless explicitly stated. Furthermore, no endorsement of any criminal activity is expressed or implied.
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© Marco Beranzoni - All rights reserved.
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[@FinCrimeAgent]

🚀 Become a FinCrime Agent Patron and unlock exclusive perks! By joining my Patreon community, you'll get access to special content, shout-outs, private Q&As, and more! Help me reach 100 patrons by the end of 2024, and let's grow this community together. 😃 Check out the different tiers and join now: www.patreon.com/FCAgent 🔥 Your support helps me create even more valuable content! Thank you! 🙏

[@femina_regis]

Thank you, I’ve worked in investigations for a big box retailer for about 7 years and in a bank now for a year. I’m realizing I want to merge both experiences and go for fraud investigator positions. This video really helped!

[@FinCrimeAgent]

Hi Jadda, thanks for sharing your feedback 👍🏻 I’m glad the video was useful to you. Stay tuned as there will be more videos in the next weeks with insights on other roles for those like you keen to start a career in AML or other Financial Crime prevention roles. Thanks for watching my channel 🙂

[@user-fo6el8xr9k]

Great Job 👏

[@FinCrimeAgent]

Thank you 👍🏻

[@Agaettis]

I'm starting as a detection analyst in a few weeks, so I look at checks and determine if theres anything suspicious. I hope to move into something in AML eventually

[@FinCrimeAgent]

Hi Nakama, thanks for leaving a comment on the video. Best of luck for your new role 👍🏻

[@TheMagicofRyanBrown]

So that is an actual position?...I'm learning....

[@bechikhnaoufel3395]

The most important point I was looking for in the conversation I did not find? What professional certificate is required for this position?

[@FinCrimeAgent]

Hi and thanks for commenting 👍🏻 The question is there at min 02.53 …

[@aestheticallypleasing7184]

Any suggestions/ideas from the channel or anyone on how to get an investigator job? Ive been applying at places and no bites. I dont have experience yet working as an investigator, I think thats why Im being denied. Are there staffing agencies that recruit investigators? I have not found any. Its like I cant get experience if no one will give me a chance and hire me :/ so how does anyone start??

[@FinCrimeAgent]

Hi and thanks for commenting on the video. I understand your frustration, getting into a new industry is always a challenge. I live in the UK and there are indeed agencies here to help professionals with the job hunting aspect. However, if you have no experience I would not fully rely only on employment agencies. You will need a more strategic approach to actually land into your first role. I have expanded on the process that I would personally recommend for those like you with no experience in this video: kzbin.info/www/bejne/baGzp2igaadsmqM Let me know if this is helpful. Thanks for watching and my most sincere wishing for your job hunt. Hang in there, you will make it!

[@raynaldo2232]

i started as financial acct on credit cards and now i just got hired to this role

[@AManCheetah]

I think this was focussed very much on one specific type of fraud investigation role. Fraud investigator roles within private companies as described here, are completely different to public sector fraud investigator roles.

[@FinCrimeAgent]

Hi, thank you for your insightful comment! 👍🏻 You're absolutely correct. The specifications of a Fraud Investigator role can indeed vary significantly between the public and private sectors, and even within the same sector. This video was intended to provide a high-level overview of the role to help viewers understand the general expectations of such a job. Your perspective from the public sector seems valuable, and if you're open to it, I would love to invite you to share your experiences on my channel. This could provide a more nuanced understanding of the role for our audience. Please let me know if you're interested. Thanks again for watching and for your thoughtful comment! 🙂

[@AManCheetah]

Zan gave a great insight into his experience, and delivered it very concicely too. I'm happy to answer any questions about my experience, but going on camera isn't something I would do due to the nature of the role. Thanks for the invite!

[@FinCrimeAgent]

Thanks for your availability! I appreciate that 🙂 If you could add me to your LinkedIn maybe I can send you a few questions there for me to create a video on this?

[@Plantswithnee]

I currently work in financial crimes entry level,i only work on the ctr report,fraud alerts and CIP ,i really want to get into analyst side as far as sar/case filings

[@FinCrimeAgent]

Thanks for commenting on the video! I hope the information shared by Zan can give you a closer understanding about the role you’d like to move into. Best wishes 🙂

[@richw8574]

I’m really interested in your current work. How can I even get started? Do you know if I need any certifications? And what are some good companies? Please I am googling but I would love to hear from someone who has experience. Thank you

[@Plantswithnee]

@@richw8574 i talked to the manager of the fraud department to let her know that i was interested,i didnt need any certifications but u could get a certification with ACams .i already worked in banking for years,if ur not in banking yet i would say start out as a teller and do well.

[@richw8574]

Thank you so much for your response I really appreciate it

[@FinCrimeAgent]

Thanks for commenting on this video Rich. There are indeed different ways to acquire working knowledge in this field. ACAMS qualifications mentioned above by NeesSh are usually very popular. However, there are also other qualifications very well recognised by the industry. I've been asked several times by other viewers if qualifications can help to move into the industry and my view is that having a certificate can help as it demonstrate your commitment, particularly if you are new to the industry. To support my community here I've managed to secure a 20% discount on all courses and certificates provided by The Association of Governance, Risk & Compliance (AGRC). To claim your discount: 1️⃣ Go to fincrimeagent.elearning.lgca.uk/ 2️⃣ Choose your course 3️⃣ Use the discount code: FCA20 Best wishes!

[@liveonmiamibeachcom6775]

Which companies are hiring for financial crimes remote world wide?

[@FinCrimeAgent]

That’s a good question … but I’m afraid I don’t have a straight answer. Unless other viewers are aware of those opportunities, I would suggest you to raise it with job agencies specific to our sector. Is probably also a good idea to do in parallel your own research online. Thanks for commenting on the video 👍🏻

[@lvgio]

i currently work as a customer advisor for personal banking, nothing fraud related, how easy would it be for me to get into Fraud/AML?

[@FinCrimeAgent]

Hi and thanks for commenting on this video! The transition from personal banking to Fraud/AML can definitely be achievable with some preparation and dedication. Your experience as a customer advisor in personal banking will have equipped you with a deep understanding of banking products, procedures, and customer behavior, which are all valuable when moving into Fraud/AML. Here are some steps you could consider to facilitate your transition: > Education: Consider expanding your knowledge in the area of Fraud and AML. There are many courses, both online and in-person, that can provide you with the fundamental knowledge needed in this field. Certifications like Certified Anti-Money Laundering Specialist (CAMS), Certified Fraud Examiner (CFE) or AGRC are highly valued in this industry. I also managed to secure a 20% discount on all AGRC courses so if any of those are interesting to you take a look at the link in the video description. >Internal Opportunities: Look for opportunities within your current organization to move into the Fraud/AML department. Banks often prefer to hire internally, and your current knowledge of the institution can be an advantage. >Networking: Connect with professionals in the field. This could be through LinkedIn, industry events, or internal networking within your organization. This can often lead to opportunities and will give you a better understanding of the day-to-day responsibilities of the role. Remember, everyone's journey is unique and it may take some time to transition, but with persistence and a strong interest in the field, it's definitely possible! Good luck on your career journey, and don't hesitate to reach out if you have more questions. By the way, if you're finding the content on my channel valuable and want to support this project, you might consider becoming a patron on Patreon.com/FCAgent. Your support can help me continue providing useful career advice and insights into the finance industry. Thanks for watching and engaging!

[@MidnightVentures]

Do you recommend ACFE certification?

[@zanarif8310]

ICA and ACAMS are staple. Being qualified by experience is far better than certifications for most roles.

[@FinCrimeAgent]

Hi! I am personally not very familiar with the benefits of this certification. However, other viewers of the channel with a stronger exposure to Fraud might be able to provide you with a better feedback on this. Thanks for watching my videos 👍🏻

[@chethangowda176]

I would need suggestion as I’m working as senior fraud analyst in standard chartered bank Which organisation do I have option to think of and the designation I can expect?

[@chethangowda176]

I meant after leaving standard chartered what are the options available

[@FinCrimeAgent]

Thank you for reaching out! Firstly, congrats on your position as a senior fraud analyst with Standard Chartered Bank. Given your experience, you have several potential options moving forward: Other Major Banks: Considering your experience with a top-tier bank like Standard Chartered, other major banks would likely be interested in your expertise. Institutions like HSBC, JPMorgan Chase, Citi, Bank of America, Barclays, and Deutsche Bank all have robust fraud departments. Financial Technology (FinTech) Companies: With the rise of digital banking and online payment systems, FinTech companies are heavily investing in fraud prevention. Companies like PayPal, Stripe, Square, and many emerging FinTech startups would value your experience. Credit Card Companies: Mastercard, Visa, American Express, and Discover all have substantial fraud detection and prevention departments. Your background would make you a strong fit. E-Commerce Companies: With the rise of online shopping, major e-commerce platforms like Amazon, eBay, and Alibaba need experienced professionals to manage and prevent transactional fraud. Consulting Firms: Big consulting firms like Deloitte, PwC, EY, and KPMG often advise other companies on fraud prevention, and they usually hire professionals with hands-on experience in the field. Government & Regulatory Bodies: Depending on your country, there might be opportunities to work with regulatory agencies that oversee banking and financial activities. Your experience would be invaluable in shaping policies or investigating major cases. As for the designation, it could vary based on the organization, but positions like "Fraud Prevention Manager," "Head of Fraud Detection," "Fraud Solutions Architect," or "Fraud Strategy Consultant" might be attainable, based on your experience. As you can see there is a very broad range of option so is also very much about what is your long term career view and objectives. Remember, networking is crucial. Reach out to contacts in your desired field, attend industry events, and consider further certifications or training to boost your profile. Best of luck in your next career move, and always feel free to reach out if you have more questions! Marco

[@gfizzle099]

​@@FinCrimeAgentis that chatgpt

[@FinCrimeAgent]

@@gfizzle099 is there anything that you disagree with in my reply?

[@augustriandyrizkymaris2894]

as a non tech background I often found struggle when it comes to utilizing open search and any other information source on finding / gathering documents and information to investigate cause sometimes there are no results adequate to conclude anything. how do you guys do it? perhaps i need to get deeper and learn to access dark web or such? wkwkwkw

[@FinCrimeAgent]

Hi, it sounds like you're facing challenges in effectively using online search tools, which is a common issue for many, especially those without a tech background. There's no need to venture into the dark web for most information needs. Here are a few tips that might help: Refine Your Search Terms: Sometimes, the key to finding better results is using more specific search phrases. Think about the exact information you need and try to include relevant keywords. Use Advanced Search Options: Most search engines offer advanced search options that allow you to narrow down results by date, region, or specific types of content. Learning these features can be very helpful. Check Reliable Sources: For research and investigations, it's often useful to go directly to trusted sources like academic journals, official reports, and reputable news outlets. Educational Resources: There are plenty of free online courses and resources that teach effective research and information gathering skills. These might be useful to build your skills. Community and Forums: Sometimes, engaging in forums or online communities relevant to your topic of interest can lead to valuable insights and resources. Remember, effective research is a skill that develops over time, and there's always something new to learn, regardless of your background. I hope those info will help you to improve. Thanks for commenting on my video! Marco

[@enriquemorin1238]

Is there cources that you can take remote?? Thanks

[@FinCrimeAgent]

Hi Enrique. Yes, you can take remote courses to become a fraud investigator. Many online platforms offer training in key areas such as fraud detection, forensic accounting, and cybersecurity. These courses are convenient and can be completed from anywhere. It's also important to research which organizations are highly regarded in your region. This ensures the course you choose is recognized and will positively impact your CV. Marco

[@tunde5463]

Hi there I’m interested in getting into Fraud investigation but I have no qualifications. Would it still be possible to get into without any qualifications. My background is level 2 cybersecurity.

[@FinCrimeAgent]

Hi @tunde5463! Thanks for reaching out. It's great to hear that you're interested in fraud investigation. While having specific qualifications can be helpful, it's not always necessary to get started in the field. Your background in level 2 cybersecurity can also be a good asset. Many fraud investigation roles value skills and experience in related areas, such as cybersecurity, analytics, and law enforcement. I would recommend looking into entry-level positions or maybe consider also internships to gain practical experience. Additionally, (if you don’t have any yet) consider obtaining relevant certifications or taking courses to bolster your knowledge. Let me know if this is useful. Best of luck on your journey!

[@nicholasnash2403]

I do retail loss prevention for a retail store in Chicago And I deal with a lot fraud and theft from employees stealing money from the cash register, customers using someone credit/debit or Id to identifying organize retail theft crimes all while using cctv equipment or walking the sales floor. Is that a good background to become a fraud investigator?

[@FinCrimeAgent]

Hi Nicholas, thanks for sharing your experience in retail loss prevention! Your background in dealing with various types of fraud and theft, as well as your hands-on experience with CCTV equipment and sales floor monitoring, can be valuable assets for a fraud investigator role. While retail loss prevention and fraud investigation might differ in certain aspects, such as the industries they focus on or specific techniques used, your skill set and experience can certainly provide a strong foundation for transitioning into a fraud investigator position. You may want to further enhance your knowledge by familiarizing yourself with financial industry-specific regulations, tools, and methodologies, as well as networking with professionals in the field. Best of luck in your career journey!

[@dtr_DoTheRighThing]

What if you are working in the bank and you are having V2k?What should you do if people keep hackingand harrassing you?

[@FinCrimeAgent]

Hi Crista, I understand that experiencing harassment can be distressing. If you believe you are being targeted or harassed at work or through technology, it's essential to report your concerns to the appropriate authorities, such as your supervisor, human resources department, or even law enforcement if necessary. They can help you address the issue and ensure your safety and well-being. Remember, it's always important to maintain open communication with trusted individuals and seek support when needed.

[@dtr_DoTheRighThing]

We have all done that.Its actually my husband is working as a security analyst in one of the biggest bank.He reported it at work and authorities.But because lot of set up my husband get confused and don’t know what to do and blame it into mental issues.I believed he is being harrassed.He recieved fake phone call as police impersonated.Breaking and enter,steal his personal stuff,moving his car around and they hacked all his accounts especially his gmail which have all his access and steal his domain accounts.He was been forced on leave and being fired without giving an explanation.Now we left homeless.Its hard for no one believe us.

[@FinCrimeAgent]

Hi Crista, I'm genuinely sorry to hear about what you and your husband are going through. It's an incredibly tough situation. Here are a few steps that I suggest: - Reporting to Law Enforcement: If crimes such as breaking and entering or police impersonation have occurred, it's crucial to report these to your local police department again. Keep all possible evidence of these incidents like phone records, emails, etc. - Legal Advice: Given that your husband was dismissed without a clear explanation, I'd recommend consulting with an employment lawyer to discuss potential wrongful termination. - Cybersecurity Expert: It could be beneficial to speak with a cybersecurity expert or a firm specializing in digital security. They could help safeguard your personal details and assets. - Support Groups: Try to connect with local or online groups who've faced similar situations. They might be able to offer advice, provide support, and share useful resources. - Mental Health Support: During such trying times, mental health becomes even more important. Please consider reaching out to a mental health professional who can offer support and suggest coping strategies. - Social Services: Don't hesitate to reach out to local social services. They can provide immediate support with housing and other essential needs. Please remember, as overwhelming as these steps may seem, you don't need to do them all at once. Take one step at a time, and reach out to the appropriate authorities and professionals to get the support you need. You're not alone, and there are people and resources out there that can help.

[@nathanjones5436]

Do you need experience or qualifications to start this job?

[@FinCrimeAgent]

Hello @nathanjones5436, Starting a career as a Fraud Investigator typically requires a combination of education and experience. A degree in criminal justice, finance, accounting, or a related field can be very beneficial. Certifications such as Certified Fraud Examiner (CFE) can also give you an edge. Many positions require some experience in law enforcement, legal, or financial services. However, entry-level roles do exist where you can learn on the job. I’d also recommend staying updated on the latest in fraud prevention and detection techniques, as well as relevant regulations. Best of luck in your career pursuits! Let us know if you have any more questions 👍🏻

[@bernardmakungu290]

Cons,building enemies within and outside,cause what you unfold culprits and crime sponsors dislike to hear and made known to the public.

[@FinCrimeAgent]

Hi Bernard, thanks for commenting on the video 👍🏻 That is true, however I guess is something we must put into account when we choose to get into roles with the aim to stop criminals.

[@janicew9]

Did I get that wrong? 20k gbp? Thats IT? how does anyone even pay rent on that

[@FinCrimeAgent]

Hi Janice, I think the salary that Zan mention around 20/25K per year are for very junior roles and probably not within the London area. The video is a couple of years old and salary went up recently - However, considering that across the UK the average salary is still ~35K today, starting at 25K is a low wage but is probably not too far off especially for junior roles not in the London area. What do you think?

[@bellaem6409]

I'm surprised the pay is quite low.

[@FinCrimeAgent]

Hi, thanks for commenting on this video 👍🏻. It's important to note that salaries can vary significantly based on factors like location, market demand, and, of course, each candidate's personal experience. The figures shared in this video serve as an indication and are based on the experiences of my guest. You can find entry-level roles paying more (or less) than the amount mentioned... so it really depends. Thanks for watching!