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Best fraud analyst certifications
Fraud analyst certifications allow job seekers to demonstrate their competency as an fraud analyst to employers. However, not all fraud analyst certifications provide the same value for job seekers.
The best certifications for a fraud analyst are Certified Fraud Examiner (CFE), International Accredited Business Accountant (IABA), and Certified Management Accountant (CMA).
Below is a list of the best fraud analyst certifications. Obtaining an fraud analyst certification will give you a leg up when you apply for jobs and increase your potential salary.
5 best certifications for fraud analysts
| Rank | Fraud analyst certification | Organization |
|---|---|---|
| 1 | Certified Fraud Examiner (CFE) | ACFE |
| 2 | International Accredited Business Accountant (IABA) | ACAT |
| 3 | Certified Management Accountant (CMA) | IMA |
| 4 | Certified Information Security Manager (CISM) | ISACA |
| 5 | Certified Insurance Fraud Analyst (CIFA) | IASIU |
5 best fraud analyst certifications
1. Certified Fraud Examiner (CFE)
The ACFE established and administers the Certified Fraud Examiner (CFE) designation. Globally preferred by employers, the Certified Fraud Examiner (CFE) designation denotes proven expertise in fraud prevention, detection, deterrence and investigation. Members with the CFE credential gain a professional advantage and quickly position themselves as leaders in the global anti-fraud community.
- More than two years of education or training after high school required? Yes
- More than two years of work experience required? Yes
- Oral or written exam required? Yes
- Renewal required? Every 3 year(s)
2. International Accredited Business Accountant (IABA)
ACAT seeks to ensure that all accredited individuals possess both the theoretical knowledge and the practical knowledge necessary to be successful practitioners. For that reason, candidates for accreditation must satisfy an experience requirement before becoming fully credentialed: three years of related work experience, up to two of which may be satisfied through college credit. Related work experience includes verifiable experience in accounting, financial services, or other field requiring a practical and theoretical knowledge of the subject matter covered on the ACAT Comprehensive Examination for the International Accredited Business Accountant. Those who pass the exam but who have not met the experience requirement may market themselves as having passed the ACAT Comprehensive Examination for International Accredited Business Accountant, but are not entitled to use the IABA designation.
- More than two years of education or training after high school required? No
- More than two years of work experience required? Yes
- Oral or written exam required? Yes
- Renewal required? No
3. Certified Management Accountant (CMA)
The CMA (Certified Management Accountant) is the advanced professional certification specifically designed to measure the accounting and financial management skills that drive business performance.
- More than two years of education or training after high school required? Yes
- More than two years of work experience required? Yes
- Oral or written exam required? Yes
- Renewal required? Every 1 year(s)
4. Certified Information Security Manager (CISM)
The Certified Information Security Manager® (CISM®) certification program is developed specifically for experienced information security managers and those who have information security management responsibilities. The CISM certification is for the individual who manages, designs, oversees and/or assesses an enterprise's information security (IS). The CISM certification promotes international practices and provides executive management with assurance that those earning the designation have the required experience and knowledge to provide effective security management and consulting services. Individuals earning the CISM certification become part of an elite peer network, attaining a one-of-a-kind credential. The CISM job practice also defines a global job description for the information security manager and a method to measure existing staff or compare prospective new hires.
- More than two years of education or training after high school required? Yes
- More than two years of work experience required? Yes
- Oral or written exam required? Yes
- Renewal required? Every 1 year(s)
5. Certified Insurance Fraud Analyst (CIFA)
The Certified Insurance Fraud Analyst (CIFA) certification is an accrediting process that covers all topics that deem an analyst to be well rounded and versed in all aspects of fraud analysis.
- More than two years of education or training after high school required? Yes
- More than two years of work experience required? Yes
- Oral or written exam required? Yes
- Renewal required? Every 3 year(s)
What is the best certification for a fraud analyst?
The best fraud analyst certification is Certified Fraud Examiner (CFE). The Certified Fraud Examiner (CFE) is awarded by the Association of Certified Fraud Examiners. This certification is great to have as it shows an improvement in your competency to perform your role. You can earn this certification at the beginning of your career, as it often doesn't require a minimum education level and work experience.
Here's a bit more background on how to obtain this fraud analyst certification:
- To become a certified Certified Fraud Examiner (CFE), you need to pass the exam.
- This certificate requires more than two years of work experience.
- Renew certification every 3 year.
What are some of the most in-demand certifications for fraud analysts?
The most in-demand fraud analyst certification is Certified Fraud Examiner based on all active job postings. Having this fraud analyst certification will give you access to more fraud analyst jobs with higher salaries.
The most common combination of fraud analyst certifications include: Certified Fraud Examiner (CFE), International Accredited Business Accountant (IABA), and Certified Management Accountant (CMA).
Online courses for fraud analysts to earn certifications
1. Fraud Detection on Financial Transactions with Machine Learning on Google Cloud
This is a self-paced lab that takes place in the Google Cloud console. Explore financial transactions data for fraud analysis, apply feature engineering and machine learning techniques to detect fraudulent activities using BigQuery ML...
2. Financial Accounting-Debits & Credits-Accounting Transaction
Masterclass: Learn Accounting Principles, Financial Statements, Transactions & More in this Comprehensive Course...
3. Forensic accounting, fraud investigation and fraud analytics
The 14 hour course(50casestudies) helps to understand fraud examination, forensic audit,financial crime, data analytics...
4. Financial Accounting: The Complete Introductory Crash Course
Learn the Basics of Financial Accounting: Financial Statements, Debits and Credits, The Accounting Cycle and More!...
5. Principles of Financial Accounting
Learn the complete accounting cycle -recording business transactions to presenting the Balance Sheet & Income Statement...
6. Financial Accounting-Adjusting Entries & Financial Statement
Master Adjusting Entries & Financial Statements: A Comprehensive Guide for Accurate Accounting and Reporting...
7. Financial Accounting-Inventory & Merchandising Transactions
Mastering Inventory Accounting: From Merchandising Transactions to Cost Flow Assumptions...
8. Financial Accounting & Excel-Comprehensive Accounting Course
Comprehensive accounting course to learn the accounting cycle in a practical way and pick up critical Excel fundamentals...
9. Accounting Made Easy: A Quick Guide to Financial Accounting
Accounting is not about Math, it is about concepts. And no one said it has to be hard. Learn the basics in just 2 hours!...
10. Accounting for Corporations - Financial Accounting
Demystifying Corporate Accounting: An In-depth Exploration of Financial Transactions in Corporations...
11. Financial Accounting: A Comprehensive Guide with E-book
Unlock Financial Accounting Mastery: Comprehensive Course for Students, Professionals, and Business Owners...
12. Introductory Financial Accounting
Learn the basics of Accounting including: the accounting cycle, inventory, depreciation, receivables, and more!...
13. Advanced Financial Accounting: Acquisitions & Consolidations
Acquisitions, Consolidations, and Reporting. Master complex concepts and applications...
14. Forensic Accounting: Fraud Investigation! (Course 1 of 4)
Fraud Examination, Fraud Prevention, Fraud Detection, and Fraud Correction...
15. Governmental Accounting 100
Fund accounting-governmental accounting-General Fund & government-wide activity transactions-modified accrual method...
16. Accounting & Financial Statement Analysis: Complete Training
Accounting & Financial Ratio Analysis made easy. Learn important accounting skills that will get your foot in the door!...
17. Fraud Prevention, Dispute Resolution and PCI-DSS Masterclass
The fundamentals of fraud prevention and monitoring + dispute resolution + PCI-DSS requirements - now in one course...
18. Financial Accounting-Depreciation Calculation & Fixed Assets
Optimizing Asset Management: Comprehensive Guide to Property, Plant, and Equipment Accounting...
19. Payroll Accounting: Laws, Calculations, and Journal Entries
Master the complex world of payroll with practical examples, legislation insights, and comprehensive problems...
20. Financial Bookkeeping and Accountancy: Complete Accounting
A Complete Course on Book-keeping & Accounting Course For Level 1 & 2 aspirants...