How To Become A Fraud Prevention Specialist: What It Is and Career Path

What is a fraud prevention specialist and how to become one

Updated January 8, 2025

3 min read

A Fraud Prevention Specialist is responsible for evaluating and monitoring business transactions to protect the company from any fraudulent activities. He/She prevents losses by reviewing the company's transactions for fraudulent activities. He/She also analyzes current fraud detection and prevention methods and makes recommendations when necessary. Aside from that, he/she develops the company's security guidelines, policies, and regulations. As a fraud prevention specialist, you protect the business and its customers from any risks and losses. You also identify patterns and trends of fraudulent actions to prevent future ones.

For fraud prevention specialists, a bachelor's degree is the most common educational requirement. They must be experienced in conducting risk management schemes and fraud analysis. They must also be detail-oriented and good communicators. Fraud prevention specialists must possess analytical, problem-solving, and basic computer skills. The average gross salary is $41,786. However, it ranges from $30,000 to $59,000.

ScoreFraud Prevention SpecialistUS Average

Salary

3.0

Avg. Salary $37,798

Avg. Salary $59,228

Stability level

6.3

Growth rate 6%

Growth rate 0.3%

Diversity

1.9

Race

American Indian and Alaska Native 1.90%

Asian 1.22%

Black or African American 5.96%

Hispanic or Latino 12.25%

Unknown 7.30%

White 71.37%

Gender

female 55.78%

male 44.22%

Age - 49

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 49

Stress level

6.3

Stress level is manageable

7.1 - high

Complexity level

6.3

Complexity level is intermediate

7 - challenging

Work life balance

7.3

Work life balance is good

6.4 - fair

Key steps to become a fraud prevention specialist

Explore fraud prevention specialist education requirements

Most common fraud prevention specialist degrees

Bachelor's

44.3 %

High School Diploma

22.9 %

Associate

21.4 %

Start to develop specific fraud prevention specialist skills

Skills	Percentages
Fraud Prevention	20.01%
Outbound Calls	8.42%
Customer Service	7.09%
Financial Institutions	5.53%
Anti-Money Laundering	5.16%

Complete relevant fraud prevention specialist training and internships

Accountants spend an average of 1-2 years on post-employment, on-the-job training. New fraud prevention specialists learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a fraud prevention specialist based on U.S. Bureau of Labor Statistics data and data from real fraud prevention specialist resumes.

Research fraud prevention specialist duties and responsibilities

Accomplish investigations that meet the criteria for referrals to the OIG and/or the FBI.
Draft referrals to appropriate departments for SAR filing and further review/investigation.
Implement medically accurate, evidence base curriculum with the purpose of reducing teen pregnancy rates and behavioral risks underlying teen pregnancy.
Assist with limit increases on ATM withdrawals and point of sale purchases.

Prepare your fraud prevention specialist resume

When your background is strong enough, you can start writing your fraud prevention specialist resume.

You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on a fraud prevention specialist resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.

Choose from 10+ customizable fraud prevention specialist resume templates

Build a professional fraud prevention specialist resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 10+ resume templates to create your fraud prevention specialist resume.