Skills required to become a fraud examiner in UAE

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The prevention of fraud in the business and the corporate world is a challenge that is faced by all the firm regardless of their size. The detection of fraud in a corporate includes the examination of a stack of documents, interviewing of the employees, reviewing the accounts and the bookkeeping, etc. The fear of the frauds was a lot when there were no specific roles assigned to fraud detection. But not with the awareness in the corporate, certified fraud examiners are appointed by the firms to detect the frauds so that legal action could be taken against the offender. The employment of the fraud examiners in a company ensures that all the activities in the firm are being monitored closely so that the potential frauds could be averted by the fraud examiners. 

With the changing technology, the penetration of the frauds could not be restricted to the employees of the firm as there is a lot of malware software that is being designed by the hackers to tamper the information in a corporate and to corrupt the important data. The occupation of a fraud examiner came into play in the 1980s when the number of the corporate became so frequent that the firms had to resort to strict actions to prevent the frauds from taking place in their business. The earlier job of the fraud examiner constituted of the corporate frauds like money laundering, illegal disbursements, abuse of corporate resources, etc. Presently the form of the fraudulent practices has evolved and includes the use of the malicious software that intrudes into the privacy of the corporate to prevent the corruption or the deletion of the data of the firm. The firms have also started putting the fraud detection systems into place that report to the corresponding department if any suspicious fraudulent activity takes place in a firm.  

Required skills to become a fraud examiner

The first step to becoming a fraud examiner in Dubai constitutes of the qualification of a professional exam to earn the essential credentials like the Certified Fraud Examiner (CFE) or Certified Forensic Computer Examiner (CFCE). These credentials could be earned by attending the required programs at the universities like the University of Rhode Island, Champlain College, Utica Colleges, etc. that offer the best programs that fulfil the conditions and the requirements for becoming a fraud examiner. Apart from attending the university programs, there are a few more skills that need to be incorporated to excel at the profession of a fraud examiner which includes:

  • Insight of the business: This is an extremely important trait that is required for the profession of a fraud examiner. You need to have an in-depth understanding of all the business practices to know about the potential ways in which the fraud could be initiated without leaving any suspicious traces behind. They need to be able to devise rules and practices that help in the aversion of the potential frauds in the corporate. The fraud examiner must be well- versed with the gaps in the security of the data and the finances in a business to be able to work on filling the voids while keeping the business running.  
  • Compliance with technology: As the frauds are becoming more advanced and are resorting to using the latest technologies and software to intrude into the important information about the firm, the fraud examiner has to have the knowledge of the latest technologies that are available in the market to protect the corporate from a possible fraud attack. There are several technologies that have been put into place to make the fraud examiner working in a corporate awareness of the potential fraudulent practices that could be taking place in the firm. This supports the fraud examiner to conduct the examination and to take the decisions in a jiffy to prevent the fraud from happening. The deployment of the latest technology aids the fraud examiner to perform its job effectively and efficiently.  
  • Understanding about the corporate world: The fraud examiners must have detailed knowledge about the corporate world to function well in their job. They need to know where the important data lies so that they can protect that data from being leaked. They must be wary of the functionality of the corporate so that they could take wise actions without wasting any time if any suspicious activity takes place.  
  • Work experience: The fraud examiners become better at their jobs with passing time. They should start volunteering for the work at different institutions to gain the knowledge about how the fraud prevention takes place for different security systems as this would give them a chance to develop a better insight into the prevention of the corporate frauds. The more they explore the different institutions, the more they will come to know about the methods that need to be deployed to avert any potential fraud from taking place.  
  • Wary of the fraud laws: The fraud examiners need to know about all the laws that are associated with the protection of the businesses and the firms from the fraudulent practices. They must be able to put the right law into action to prevent the fraud from entering into the firm and to punish the offender.

These are essential skills that must be possessed by an individual who wants to take up the profession of a fraud examiner. The fraud examiners who have worked with international firms or have the insight of various international laws and policies that are followed for the prevention of the fraudulent practices from taking place are preferred in the job as they have the exposure that helps them to perform their job better than the other fraud examiners who have only worked within a single country. The job of a fraud examiner is in demand in Dubai as more and more businesses are being opened. The business environment in Dubai is focused on the protection of the important details of the business to prevent the business from going into loss.      

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