Certified Fraud Investigator

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CFI

Certification Toolkit

499 USD

  • Comprehensive Study Material (Softcopy)
  • Access to over 500 true/false questions to solidify your understanding of key concepts.
  • Practice with more than 1500 MCQs to enhance your confidence and fine-tune your exam readiness.
  • Certification Exam Voucher (90 Days Validity)
  • Valuable study tips and exam techniques
  • Schedule and take your exam anywhere and anytime
  • Proctored Online Certification Exam
  • Immediate Exam Results and Performance Feedback
  • Premium digital badge and certificate issued upon successful completion
  • Access to a unique link for online verification of the certificate authenticity
  • Enjoy Up to 3 years certification validity renewable without limit.

Join the Front Line Against Fraud with the CFI Certification!

In a world where fraud is rapidly increasing and becoming more sophisticated, the need for skilled fraud investigators has never been greater. Join the fight against fraud and protect your organization with the Certified Fraud Investigator (CFI) certification from GECB.

Why Choose CFI?

The Certified Fraud Investigator program is designed to equip professionals with the skills and knowledge needed to investigate and prevent fraud in a variety of industries. With the rise of digital technology and increasing sophistication of fraudsters, it's more important than ever to have experts trained in the latest techniques and best practices for fraud detection and investigation.
 Learn from experts with years of real-world experience in fraud investigation. Our program covers fraud detection, investigation planning, evidence collection, interviewing techniques, and reporting.
Stay ahead of fraudsters by mastering the latest fraud prevention, detection and investigation methods.
Earn the prestigious GECB Certified Fraud Investigator designation, demonstrating your expertise and commitment to ethical and professional standards.
Open doors to new career opportunities and enhance your professional reputation in the field of fraud investigation.
Gain hands-on experience through practical exercises and real-world case studies, ensuring you are job-ready from day one.
Join a community of dedicated professionals committed to fighting fraud and promoting integrity in business.

Elevate Your Career with CFI

Dive into a comprehensive program designed to empower you with the expertise to prevent, detect, and investigate fraud. The rise of digital technology means fraudsters are more sophisticated than ever—so should be the professionals who combat them. Our Certified Fraud Investigator program is meticulously designed to equip you with the latest methods, tools and techniques to make a difference during fraud investigations. Imagine having the expertise to spot red flags, investigate suspicious activities, and gather compelling evidence to bring fraudsters to justice. Our hands-on training and real-world scenarios will prepare you to become a trusted expert in the field of fraud investigation.

What You Will Learn

Principles of Fraud Investigation

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Fraud Prevention and Detection Techniques

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Fraud Investigation Schemes

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Investigation Methodologies

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Interviews in Fraud Investigation

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Exam Syllabus for CFI Certification


  • Understanding fraud and fraudsters
  • Why do people commit fraud?
  • Fraud triangle
  • Audit or Investigation: Key differences
  • Understanding investigation models for fraud investigations
  • Understanding the decision-making process
  • Understanding fraud victim support
  • Understanding the principles of proof
  • Understanding material management during a survey
  • Understand the differences in approach to civil, criminal and regulatory investigations
  • Understanding the management of parallel investigations
  • Understanding record-keeping during a survey
  • Fraud prevention techniques
  • Implement a formal fraud risk management program
  • Carry out a fraud risk assessment
  • Develop clear policies and procedures
  • Fraud awareness programs
  • Fraud prevention through internal controls
  • Fraud prevention: A four-step approach
  • Fraud detection techniques
  • Set up a comprehensive whistle-blowing system (including a hotline, green e-mail, suggestion and whistle-blowing boxes).
  • Using Bendford's Law
  • Using CAATTs to detect fraud
  • Proactive fraud auditing
  • Understanding the warning signs of fraud
Asset misappropriation investigation
    Payment systems
    Disbursement mechanisms
    Non-cash plans
    Inventory and all other assets
    Cash theft systems
    Record disbursements
    Expense reimbursement plans
    Billing schemes
    Payroll plans
    Cheque forgery
Financial statement fraud investigation
    Overstated revenues
    Channel filling
    Triumph in the round
    Overvaluation of assets
    Underestimation of liabilities and expenses
    Handling reserves
    Misrepresentation and omission of information
    Incorrect registration of mergers and acquisitions
    Off-balance sheet items
    Accounting involves making judgments and estimates
    Earnings management
    Calendar differences
    Fictitious income
    Hidden liabilities and expenses
    Incorrect valuation of assets
    Inappropriate disclosures
Investigating corruption systems
    Bribes
    The myth of culture
    Bribes
    Illegal bonuses
    Extortion and conflict of interest
    Transactions with related parties
    Money laundering
    Foreign Corrupt Practices Act
    Prevention and detection
    Economic extortion
External fraud investigation
    Corporate espionage
    Investment plans
    Pyramid and Ponzi schemes
    Securities fraud
    Hidden income or assets
    Insurance fraud
    Bankruptcy fraud
  • Assessing the situation
  • Selecting the interviewer
  • Interviewing the journalist
  • Taking interim measures
  • Review the protocol
Determining the scope of application
    Define your strategy
    Draw up an interview list
    Create a calendar
    Commitment assessment
    Making recommendations
    Budgeting and cost control
    Fees and billing practices
    Mission letters
File management
    Building the team: Where to start?
    Building the team: Company insiders
    Team building: Key participants
    Team composition: External consultants
    Importance of references
    Personnel management and supervision
    Work schedules and checklists
    Document management
    Preservation of evidence
    File maintenance
    Investigation software
    Professional standards
    When to stop the survey?

Preparing for the Field Phase
    Survey plan review: Ensure all aspects of planning are in place and resources are ready for execution.
    Team briefing: Training and preparation of the survey team on specific objectives, roles and responsibilities.
Information sources
    Internal sources: Details on how to access financial data, e-mails, internal documents and other corporate communications.
    External sources: Use of public databases, trade registers, social media and other external resources.
 Evidence gathering techniques
    Interviews and interrogations:
o    Interview preparation: Developing relevant questions and selecting interviewees.
o    Conducting interviews: Techniques for obtaining accurate, relevant information while maintaining a climate of trust.
    Direct observation:
o    Physical surveillance: Monitoring techniques to observe suspicious behavior and activities.
o    Covert observation: Use of technologies for discreet surveillance, such as hidden cameras.
    Literature review:
o    Document review: Detailed analysis of documents for inconsistencies or irregularities.
o    Cross-checking: Comparison of different documents to identify discrepancies.
Data Analysis Techniques
    Analysis of financial data:
o    Cash flow analysis: Track cash movements to identify suspicious transactions.
o    Transaction reconstruction: Reconstruct financial transactions to verify their legitimacy.
    Data mining techniques :
o    Fraud detection algorithms: Use of specialized software to analyze large quantities of data and identify patterns of fraud.
o    Trend and anomaly analysis: Detection of atypical behavior or abnormal trends in data.
Tests and Investigation Procedures
    Compliance testing:
o    Audit of internal policies: Control of the application of internal policies and procedures.
o    Internal control tests: Assessment of the effectiveness of existing internal controls.
    Substance testing:
o    Transaction review: Detailed examination of transactions to verify their legitimacy.
o    External confirmation: Validation of information obtained from external sources.
    Analysis tests:
o    Comparative analysis: comparing data with benchmarks or industry standards.
o    Analysis of variance: Identification of significant deviations and exploration of their causes.
Documentation and preservation of evidence
    Preservation of evidence:
o    Evidence gathering: Methods for securing, cataloguing and preserving evidence in a format admissible in court.
o    Chain of custody: Rigorous documentation of the chain of custody of evidence to guarantee its integrity.
o    Secure storage: Use of secure storage methods for physical and digital evidence.
    Progress reports:
o    Interim reports: Provision of regular updates to stakeholders on the progress of the survey.
o    Synthesis of findings: Summary of evidence collected and preliminary findings.
Solving challenges in the field
    Obstacle management: Strategies for overcoming legal, technical and operational challenges that may arise during the field phase.
    Negotiation and conflict management: Techniques for managing difficult interactions with parties involved in the survey.
Preparing for the interview
    Preliminary research: Collect and review relevant documents and information prior to the interview.
    Participant selection: Identify relevant witnesses, victims and suspects.
    Logistical planning: Choose a suitable venue and plan the timing of interviews.
Start with an Explanation
    Objectives of the initial explanation: To put the interviewee at ease, establish expectations and ensure confidentiality.
    Explanation content: Details of the interview process, importance of cooperation, protection against reprisals.
Using an Interview Plan
    Developing an outline: Create a flexible guide to structure the interview without rigidity.
    Importance of adaptability: Allow the interview to unfold naturally according to the interviewee's responses.
Create a rapport
    Techniques for establishing rapport: Be friendly, show empathy, thank the person at the beginning and end.
    Importance of a positive attitude: Encourage the person to open up and share important information.
Formulate questions carefully
    Opening questions: Ask simple questions to establish a baseline.
    Open-ended questions: Use open-ended questions to avoid directing answers.
    Clarity and simplicity: Use clear, simple language to avoid confusion.
Taking notes, the right way
    Role of the second interviewer or assistant: Take detailed notes to enable the interviewer to concentrate on the conversation.
    Note-taking methods: Use effective techniques to capture key information without interrupting the flow of the interview.
Record the Interview (if appropriate)
    Benefits of recording: Obtain an accurate transcription of responses.
    Nervousness considerations: Manage the interviewee's potential nervousness due to the recording.
Write the Interview Report
    Report structure: Introduction, summary of questions and answers, preliminary conclusions.
    Importance of accuracy: Ensure that all information is correctly captured and interpreted.
Analysis and verification of information
    Information validation: Check answers obtained with other sources to ensure their reliability.
    Evaluation of evidence: Analyze the information gathered to determine its relevance and impact on the investigation.

The Baldwin Influential Study on Fraud Interviews
    Model description
o    Origins and development of the model
o    Key principles and recommended techniques
    Advantages of the Baldwin model
    Model limitations
    Examples of practical cases where this model has been used effectively
The PEACE Model of Investigative Interviewing
    Model description
o    PEACE model structure (Preparation and Planning, Engaging and Explaining, Reporting, Clarifying and Challenging, Evaluation)
o    Specific techniques recommended in this model
    Advantages of the PEACE model
    Model limitations
    Comparison with the Baldwin model
The REID Model
    Model description
o    Origin and basic principle of the REID model
o    Steps in the REID interrogation process
    Advantages of the REID model
    Model limitations
    Discussion of the ethical criticisms often associated with this model
Walkey's Approach to Interviewing Suspects
    Description of the approach
o    Key principles and tactics used in Walkey's approach
o    Distinction between Walkey's approach and traditional methods
    Advantages of Walkey's approach
    Limitations of this approach
    Practical use of this method in specific contexts
Comparative analysis
    Table or chart comparing the four models
o    Comparison based on criteria such as efficiency, ethics, ease of use, etc.
    Discussion on the choice of the appropriate model for different types of fraud cases
Challenges of an Investigation Report
    Responsibility: The report must reflect an accurate and honest picture of the investigation to maintain the organization's credibility.
    Complete documentation: Guarantee that all aspects of the survey are covered.
    Communication of results: Ensure that results are clear and understandable to all stakeholders.
    Support for future actions: Used in litigation, for internal reviews, or as a training tool to prevent future incidents.
Qualities of a good report
    Clarity and simplicity: Use clear, accessible language, avoiding technical jargon except where absolutely necessary to make the report accessible to a wide audience.
    Objectivity: Stick strictly to verifiable facts, avoid personal opinions or speculation.
    Accuracy: Refer to documents and use direct quotations to support assertions.
    Neutrality: Avoid inflammatory language that could be perceived as biased or provocative.
    Avoid inflammatory language: Use factual, neutral language.
    Use direct quotes: Include quotes to give weight to testimonials.
    Refer to documents: Support statements with documents.
Report structure
    Introduction
o    Survey background
o    Survey objectives
o    Methodology used
    General information
o    Survey date.
o    Names of investigators.
o    Description of the incident.
o    Background to suspected fraud
o    Stakeholders involved
    Inquiry procedures
o    Survey stages
o    Investigation techniques used
o    Chronology of events
    Survey results
o    Presentation of the facts
o    Testimonies and evidence collected
o    Information analysis
    Opinions and conclusions
o    Interpretation of results
o    Survey findings
    Recommendations
o    Corrective actions to be taken
o    Suggestions for preventing future fraud
    Attachments
o    Relevant documents
o    Interview transcripts
o    Elements of proof
Report writing and presentation
    Stick to the facts: Avoid unfounded assumptions.
    Keep it simple: Use clear, direct language.
    Draft reports: Submit drafts for review before final version.
    Negative feedback: Handle negative feedback with professionalism.
Report follow-up and use
    Follow-up on the fraud investigator's work: Ensure implementation of recommendations.
    Preparing testimony: Preparing the report for legal proceedings.
    Deposition testimony: Use the report as a basis for depositions.
    Trial testimony: Present conclusions clearly and concisely.
Learning lessons to prevent future frauds
    Moving forward as a company after a major fraud: rehabilitating the company's image and restoring trust.
    Understanding vulnerabilities and threats: Identifying weaknesses exploited by fraudsters.
    Understanding fraud scenarios: Analyze the methods used to better prepare for the future.
    Reinforce internal controls: Implement measures to prevent repeat offenses.
    Marketing a fraud investigation service: Promoting the effectiveness of internal investigations to deter fraudsters.
    How to reduce fraud through investigation: Use investigations to improve processes and raise employee awareness.

What They Say About CFI

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How are we different?

Unlike competing programs, GECB combines the ingenuity of artificial intelligence with the acumen of world-class experts to craft certification programs that are not just educational credentials but a gateway to enhanced professional stature and global competitiveness. This is where AI meets expertise to forge your future.

CFI Exam Details


  • Exam Questions: 50
  • Exam Format: Multiple choice
  • Passing Score: 70%
  • Duration: 60 min
  • Open Book: No
  • Certification Validity: 3 Years
  • Complimentary Retake: Conditional
  • Language: English, French, Spanish (Portuguese Coming soon)
 

Sample Certification

Fraud is one of the fastest-growing crimes in the world today. And with the rise of digital technology, it's become even easier for criminals to deceive and steal from businesses and individuals alike. Fraudsters are getting smarter and more sophisticated. But there's hope. Become a Certified Fraud Investigator.
Our program covers key topics such as fraud detection, investigation planning, evidence collection, interviewing, and reporting. Participants will learn how to identify red flags and warning signs, gather evidence, and build a strong case against perpetrators. The program has been developed by expert instructors with years of real-world experience in fraud investigation, and will provide hands-on training and support to help candidates develop their skills.

Sample Certification

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Last modified: Thursday, 27 July 2023, 6:37 AM