Average Salary
$56,022
Average Salary
Job Growth Rate
8%
Job Growth Rate
Job Openings
1,423
Job Openings

Fraud Analyst Careers

Fraud analysts are employed by banks or financial institutions to investigate fraudulent activity related to customers' accounts. They monitor financial transactions made through the bank to trace theft or forgery. Their responsibility is to minimize potential risks to the bank and its clients.

As a fraud analyst, your job will be to flag suspicious activity by monitoring banking patterns and singling out transactions that do not fit into the expected range. You will suspend accounts where you find transactions that are not the usual type or amount directed towards unlikely partners. Your job will be to investigate and find information to verify whether these movements are signs of criminal activity.

You will work in an office environment. If you take on this position, it is probably because you are an adventurous and ambitious person who thrives on independent work. A degree will be necessary to get hired: a bachelor's in criminal justice or business administration would do for starters.

There is more than meets the eye when it comes to being a fraud analyst. For example, did you know that they make an average of $26.93 an hour? That's $56,022 a year!

Between 2018 and 2028, the career is expected to grow 8% and produce 1,300 job opportunities across the U.S.

What Does a Fraud Analyst Do

There are certain skills that many fraud analysts have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed detail oriented, physical strength and empathy.

When it comes to the most important skills required to be a fraud analyst, we found that a lot of resumes listed 15.5% of fraud analysts included fraud trends, while 11.3% of resumes included customer service, and 9.3% of resumes included fraudulent activity. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.

When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the fraud analyst job title. But what industry to start with? Most fraud analysts actually find jobs in the finance and retail industries.

How To Become a Fraud Analyst

If you're interested in becoming a fraud analyst, one of the first things to consider is how much education you need. We've determined that 51.7% of fraud analysts have a bachelor's degree. In terms of higher education levels, we found that 5.2% of fraud analysts have master's degrees. Even though most fraud analysts have a college degree, it's possible to become one with only a high school degree or GED.

Choosing the right major is always an important step when researching how to become a fraud analyst. When we researched the most common majors for a fraud analyst, we found that they most commonly earn bachelor's degree degrees or associate degree degrees. Other degrees that we often see on fraud analyst resumes include high school diploma degrees or master's degree degrees.

You may find that experience in other jobs will help you become a fraud analyst. In fact, many fraud analyst jobs require experience in a role such as customer service representative. Meanwhile, many fraud analysts also have previous career experience in roles such as cashier or sales associate.

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Average Salary
$56,022
Average Salary
Job Growth Rate
8%
Job Growth Rate
Job Openings
1,423
Job Openings

Fraud Analyst Career Paths

Top Careers Before Fraud Analyst

Cashier
13.0 %

Top Careers After Fraud Analyst

Cashier
7.6 %

Fraud Analyst Jobs You Might Like

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Tell us your goals and we'll match you with the rights job to get there.

Average Salary for a Fraud Analyst

Fraud Analysts in America make an average salary of $56,022 per year or $27 per hour. The top 10 percent makes over $86,000 per year, while the bottom 10 percent under $36,000 per year.
Average Salary
$56,022
Find Your Salary Estimate
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Best Paying Cities For Fraud Analysts

City
ascdesc
Average Salarydesc
San Francisco, CA
Salary Range50k - 97k$70k$70,314
New York, NY
Salary Range51k - 93k$70k$69,603
Jersey City, NJ
Salary Range49k - 88k$66k$66,134
Wilmington, DE
Salary Range44k - 81k$60k$60,440
Chicago, IL
Salary Range44k - 77k$58k$58,400
Cincinnati, OH
Salary Range43k - 76k$58k$57,561
Erie, PA
Salary Range38k - 72k$53k$53,068
Miami, FL
Salary Range34k - 70k$49k$49,222
Detroit, MI
Salary Range35k - 64k$48k$47,665
Omaha, NE
Salary Range35k - 57k$45k$45,392
Germantown, MD
Salary Range32k - 59k$44k$43,887
Menomonee Falls, WI
Salary Range32k - 58k$44k$43,734
Raleigh, NC
Salary Range32k - 57k$43k$43,265
Phoenix, AZ
Salary Range32k - 58k$43k$43,245
Austin, TX
Salary Range31k - 58k$43k$42,573
Knoxville, TN
Salary Range30k - 54k$41k$41,111
Atlanta, GA
Salary Range30k - 55k$41k$40,921
Saint Paul, MN
Salary Range31k - 52k$41k$40,894
Des Moines, IA
Salary Range30k - 50k$39k$39,224
$30k
$97k

Recently Added Salaries

CompanyascdescCompanyascdescStart DateascdescSalaryascdesc
Fraud Analyst
Robert Half
08/05/2021
$31,38808/05/2021
Fraud Analyst
Robert Half
08/01/2021
$41,74008/01/2021
Fraud Prevention Analyst 2-Minneapolis, MN or Telecommute
U.S. Bank
07/31/2021
$71,74007/31/2021
Fraud Prevention Analyst 2-Minneapolis, MN or Telecommute
U.S. Bank
07/31/2021
$71,74007/31/2021
Medicaid Fraud Analyst II
Florida Department of Transportation
07/30/2021
$32,69707/30/2021
See More Recent Salaries

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Fraud Analyst Resumes

Designing and figuring out what to include on your resume can be tough, not to mention time-consuming. That's why we put together a guide that is designed to help you craft the perfect resume for becoming a Fraud Analyst. If you're needing extra inspiration, take a look through our selection of templates that are specific to your job.

Learn How To Write a Fraud Analyst Resume

At Zippia, we went through countless Fraud Analyst resumes and compiled some information about how to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

View Fraud Analyst Resume Examples And Templates

Fraud Analyst Demographics

Gender

female

58.4 %

male

38.1 %

unknown

3.5 %

Ethnicity

White

57.8 %

Hispanic or Latino

16.3 %

Black or African American

13.6 %

Foreign Languages Spoken

Spanish

64.6 %

French

9.6 %

German

3.5 %
Show More Fraud Analyst Demographics

Fraud Analyst Education

Majors

Business
29.4 %

Degrees

Bachelors

51.7 %

Associate

18.8 %

High School Diploma

16.3 %

Top Colleges for Fraud Analysts

1. California State University - Bakersfield

Bakersfield, CA • Private

In-State Tuition
$7,309
Enrollment
9,142

2. SUNY at Binghamton

Vestal, NY • Private

In-State Tuition
$9,808
Enrollment
13,990

3. San Diego State University

San Diego, CA • Private

In-State Tuition
$7,488
Enrollment
30,018

4. SUNY Farmingdale

Farmingdale, NY • Private

In-State Tuition
$8,306
Enrollment
9,394

5. Boston University

Boston, MA • Private

In-State Tuition
$53,948
Enrollment
17,238

6. Howard University

Washington, DC • Private

In-State Tuition
$26,756
Enrollment
6,166

7. SUNY at Albany

Albany, NY • Private

In-State Tuition
$10,011
Enrollment
13,434

8. Western Carolina University

Cullowhee, NC • Private

In-State Tuition
$3,926
Enrollment
9,835

9. SUNY College at Plattsburgh

Plattsburgh, NY • Private

In-State Tuition
$8,369
Enrollment
5,229

10. SUNY College at Oswego

Oswego, NY • Private

In-State Tuition
$8,440
Enrollment
7,039
Show More Fraud Analyst Education Requirements

Online Courses For Fraud Analyst That You May Like

Financial Accounting: The Complete Introductory Crash Course
udemy
4.6
(829)

Learn the Basics of Financial Accounting: Financial Statements, Debits and Credits, The Accounting Cycle and More!...

Predicting Credit Card Fraud with R
coursera

Welcome to Predicting Credit Card Fraud with R. In this project-based course, you will learn how to use R to identify fraudulent credit card transactions with a variety of classification methods and use R to generate synthetic samples to address the common problem of classification bias for highly imbalanced datasets-the class of interest (fraud) represents less than 1% of the observations. Class imbalance can make it difficult to detect the effect independent variables have on fraud, ultimately...

Financial Accounting Payroll
udemy
4.4
(775)

Payroll calculations - federal income tax, social security, Medicare - Payroll journal entries posted to ledger accounts...

See more
Job type you want
Full Time
Part Time
Internship
Temporary

Top Skills For a Fraud Analyst

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 15.5% of fraud analysts listed fraud trends on their resume, but soft skills such as detail oriented and physical strength are important as well.

  • Fraud Trends, 15.5%
  • Customer Service, 11.3%
  • Fraudulent Activity, 9.3%
  • Outbound Calls, 8.0%
  • Credit Card, 5.1%
  • Other Skills, 50.8%
  • See All Fraud Analyst Skills

Best States For a Fraud Analyst

Some places are better than others when it comes to starting a career as a fraud analyst. The best states for people in this position are Alaska, New York, New Jersey, and Ohio. Fraud analysts make the most in Alaska with an average salary of $89,401. Whereas in New York and New Jersey, they would average $68,731 and $65,986, respectively. While fraud analysts would only make an average of $63,176 in Ohio, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. Alaska

Total Fraud Analyst Jobs:
19
Highest 10% Earn:
$143,000
Location Quotient:
1.12
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. New York

Total Fraud Analyst Jobs:
362
Highest 10% Earn:
$119,000
Location Quotient:
1.39
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. Delaware

Total Fraud Analyst Jobs:
39
Highest 10% Earn:
$103,000
Location Quotient:
1.53
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
Full List Of Best States For Fraud Analysts

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Top Fraud Analyst Employers

1. Bank of America
4.8
Avg. Salary: 
$75,570
Fraud Analysts Hired: 
1,831+
2. JPMorgan Chase & Co.
4.9
Avg. Salary: 
$81,042
Fraud Analysts Hired: 
377+
3. Citigroup
4.8
Avg. Salary: 
$87,812
Fraud Analysts Hired: 
320+
4. American Express
4.8
Avg. Salary: 
$83,268
Fraud Analysts Hired: 
146+
5. TSYS
4.8
Avg. Salary: 
$76,023
Fraud Analysts Hired: 
132+
6. IntelliSource
3.7
Avg. Salary: 
$37,996
Fraud Analysts Hired: 
131+

Fraud Analyst Videos

Updated August 18, 2021