What does a fraud prevention specialist do?
A fraud prevention specialist is in charge of reviewing and monitoring business transactions to ensure accuracy and thwart off fraudulent activities. Although the extent of their responsibilities depends on their place or industry of employment, it typically includes gathering and analyzing data, performing research and analyses, conducting audits and assessments, and utilizing various tools and programs. Moreover, a fraud prevention specialist must develop guidelines and conduct investigations on incidents to prevent them from happening again, all while enforcing the company's security policies and regulations.
Fraud prevention specialist responsibilities
Here are examples of responsibilities from real fraud prevention specialist resumes:
- 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.
- Educate customers on automate service options available, which include loan, ATM, and Internet banking.
- Apply CDC definitions and guidelines when investigating infections and report to NHSN.
- Collaborate in the maintenance of linkages and collaborative relationships with the various consistencies of CDC.
- Turn in fire alarms, assist in extinguishing fires, bring in and replace used firefighting equipment.
Fraud prevention specialist skills and personality traits
We calculated that 20% of Fraud Prevention Specialists are proficient in Fraud Prevention, Outbound Calls, and Customer Service. They’re also known for soft skills such as Communication skills, Detail oriented, and Physical strength.
We break down the percentage of Fraud Prevention Specialists that have these skills listed on their resume here:
- Fraud Prevention, 20%
Utilized fraud prevention techniques to help customers identify and deter fraudulent activity on their accounts.
- Outbound Calls, 8%
Perform outbound calls to customers verifying activity.
- Customer Service, 7%
Deliver exceptional customer service to internal and external customers, including support to all branches and internal departments.
- Financial Institutions, 6%
Analyzed reports of high risk or fraudulent accounts generated by other financial institutions.
- Anti-Money Laundering, 5%
Complete anti-money laundering referrals for suspicious cash deposits, wires, and structured funds.
- Management System, 5%
Worked with IT, development, and risk departments to help streamline our internal chargeback queue management system.
"fraud prevention," "outbound calls," and "customer service" are among the most common skills that fraud prevention specialists use at work. You can find even more fraud prevention specialist responsibilities below, including:
Communication skills. The most essential soft skill for a fraud prevention specialist to carry out their responsibilities is communication skills. This skill is important for the role because "fire inspectors must clearly explain fire code violations to building and property managers." Additionally, a fraud prevention specialist resume shows how their duties depend on communication skills: "monitored real-time worldwide telecommunication transactions for potential fraud trends and risks. "
Detail oriented. Many fraud prevention specialist duties rely on detail oriented. "fire inspectors must notice minutiae when inspecting sites for code violations or fire risks or for investigating the cause of a fire.," so a fraud prevention specialist will need this skill often in their role. This resume example is just one of many ways fraud prevention specialist responsibilities rely on detail oriented: "compiled case details for law enforcement, global security, and legal. "
Physical strength. fraud prevention specialists are also known for physical strength, which are critical to their duties. You can see how this skill relates to fraud prevention specialist responsibilities, because "fire investigators may have to move debris at the site of a fire in order to get a more accurate understanding of the scene." A fraud prevention specialist resume example shows how physical strength is used in the workplace: "coordinated and implemented a model, comprehensive dill prevention program which expanded and strengthened the countywide program. "
Problem-solving skills. Another skill commonly found on fraud prevention specialist job descriptions is "problem-solving skills." It can come up quite often in fraud prevention specialist duties, since "fire inspectors must be able to recognize code violations and fire risks and recommend a way to fix them." Here's an example from a resume of how this skill fits into day-to-day fraud prevention specialist responsibilities: "resolved ongoing fraud cases of customers suffering. "
The three companies that hire the most fraud prevention specialists are:
- ESL Federal Credit Union20 fraud prevention specialists jobs
- JPMorgan Chase & Co.7 fraud prevention specialists jobs
- Apple6 fraud prevention specialists jobs
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Fraud prevention specialist vs. Officer
An officer is responsible for managing the daily operations of the assigned area, ensuring its peace and security by monitoring and reporting unusual and suspicious activities. Officers are the ones enforcing strict safety protocols and procedures to maintain the order within the premises. They also coordinate with law enforcement agencies in conducting appropriate investigations for any violating cases. An officer must be highly-knowledgeable of the law policies, as well as possessing excellent leadership skills to manage the members under the officer's patrol.
While similarities exist, there are also some differences between fraud prevention specialists and officer. For instance, fraud prevention specialist responsibilities require skills such as "fraud prevention," "outbound calls," "financial institutions," and "management system." Whereas a officer is skilled in "patrol," "public safety," "emergency situations," and "powerpoint." This is part of what separates the two careers.
Officers tend to reach higher levels of education than fraud prevention specialists. In fact, officers are 8.3% more likely to graduate with a Master's Degree and 1.5% more likely to have a Doctoral Degree.Fraud prevention specialist vs. Deputy
The duties of a deputy vary on their line of work or place of employment. In law enforcement, a deputy is primarily in charge of conducting investigations on crimes and arresting criminals, performing regular patrols on streets, responding to calls of distress, and assisting citizens in calamities, disasters, accidents, or any forms of threat. There are also instances when a deputy must serve court documents, transport detainees or suspected criminals, and monitor courtrooms. Furthermore, a deputy reports to higher-ranking officers such as a sheriff.
In addition to the difference in salary, there are some other key differences worth noting. For example, fraud prevention specialist responsibilities are more likely to require skills like "fraud prevention," "outbound calls," "customer service," and "financial institutions." Meanwhile, a deputy has duties that require skills in areas such as "patrol," "public safety," "transport inmates," and "emergency situations." These differences highlight just how different the day-to-day in each role looks.
Deputies earn a higher average salary than fraud prevention specialists. But deputies earn the highest pay in the manufacturing industry, with an average salary of $53,877. Additionally, fraud prevention specialists earn the highest salaries in the technology with average pay of $57,707 annually.deputies earn higher levels of education than fraud prevention specialists in general. They're 9.7% more likely to graduate with a Master's Degree and 1.5% more likely to earn a Doctoral Degree.Fraud prevention specialist vs. Patrol officer
The job of patrol officers is to enforce ordinances, laws, prevent crime, control crowds, arrest violators, and regulate traffic. They also perform other duties that may include monitoring an assigned area for unauthorized or suspicious activity, responding to reports of emergencies and possible crime such as robberies, and building good relationships with community members. To be a successful patrol officer, you should have solid judgment, excellent communication skills, and decision-making skills in stressful situations.
The required skills of the two careers differ considerably. For example, fraud prevention specialists are more likely to have skills like "fraud prevention," "outbound calls," "financial institutions," and "anti-money laundering." But a patrol officer is more likely to have skills like "patrol," "public safety," "law enforcement agencies," and "emergency situations."
Patrol officers earn the best pay in the government industry, where they command an average salary of $39,608. Fraud prevention specialists earn the highest pay from the technology industry, with an average salary of $57,707.patrol officers typically earn similar educational levels compared to fraud prevention specialists. Specifically, they're 2.2% more likely to graduate with a Master's Degree, and 0.0% more likely to earn a Doctoral Degree.Fraud prevention specialist vs. Detective
A detective is responsible for conducting in-depth investigations for criminal activities, potential threats, and other law-violating incidents, coordinating closely with law-enforcement agencies and crime intelligence analysts. Detectives often work on the field, gathering data and related evidence to support claims and connect the timeline of events. They keep an organized record of their findings for further validation before reporting it to the authority. A detective must have excellent investigative and critical-thinking skills, especially on solving puzzles and security solutions.
Even though a few skill sets overlap between fraud prevention specialists and detectives, there are some differences that are important to note. For one, a fraud prevention specialist might have more use for skills like "fraud prevention," "outbound calls," "customer service," and "financial institutions." Meanwhile, some responsibilities of detectives require skills like "physical evidence," "patrol," "law enforcement agencies," and "crime scenes. "
Detectives reach higher levels of education compared to fraud prevention specialists, in general. The difference is that they're 5.2% more likely to earn a Master's Degree, and 0.5% more likely to graduate with a Doctoral Degree.Types of fraud prevention specialist
Updated January 8, 2025











