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

What is a fraud specialist and how to become one

Updated January 8, 2025

4 min read

A fraud specialist investigates and prevents fraudulent activities in industries such as finance, insurance, and e-commerce. They analyze data, identify patterns, and use software to detect fraudulent activities. Fraud specialists work with law enforcement and legal teams to investigate and prosecute fraudsters. They also develop prevention strategies and train employees to identify risks. This role requires strong communication, analytical, and problem-solving skills. Fraud specialists hold a degree in accounting or finance, along with relevant experience.

ScoreFraud SpecialistUS Average

Salary

2.9

Avg. Salary $37,709

Avg. Salary $59,228

Stability level

7.6

Growth rate 6%

Growth rate 0.3%

Diversity

5.7

Race

American Indian and Alaska Native 0.34%

Asian 10.00%

Black or African American 8.57%

Hispanic or Latino 9.58%

Unknown 3.87%

White 67.65%

Gender

female 62.67%

male 37.33%

Age - 43

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 - 43

Stress level

7.6

Stress level is high

7.1 - high

Complexity level

8.6

Complexity level is advanced

7 - challenging

Work life balance

5.3

Work life balance is fair

6.4 - fair

What are the pros and cons of being a fraud specialist?

Pros

High demand for fraud specialists in various industries
Good salary and benefits
Potential for career advancement
Networking opportunities with law enforcement agencies and other professionals in the field
Flexible work arrangements, including remote work options

Cons

High-pressure job with tight deadlines and high stakes
Long hours may be required during high-volume periods
Risk of burnout due to the fast-paced nature of the work
May require extensive travel, depending on the location of cases being investigated
May involve working irregular hours or being on call outside of regular business hours

Key steps to become a fraud specialist

Explore fraud specialist education requirements

Most common fraud specialist degrees

Bachelor's

42.3 %

High School Diploma

22.6 %

Associate

22.0 %

Start to develop specific fraud specialist skills

Skills	Percentages
Fraud Losses	6.48%
Inbound Calls	5.41%
Outbound Calls	5.33%
Phone Calls	5.15%
Fraud Trends	5.07%

Complete relevant fraud specialist training and internships

Accountants spend an average of 6-12 months on post-employment, on-the-job training. New fraud 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 specialist based on U.S. Bureau of Labor Statistics data and data from real fraud specialist resumes.

Research fraud specialist duties and responsibilities

Manage A/R and financial functions for large automotive global account, generating annual revenues in excess of $100M/contract year.
Identify violations of FDCPA, FCRA.
Work with mainframe and online systems to file fraud disputes and ACH debits as well as ATM transaction.
Adhere to policies of the FCRA and laws enforce by the CFPB.

Prepare your fraud specialist resume

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

Build a professional fraud 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 specialist resume.