What is a Certified Fraud Examiner?
A Certified Fraud Examiner (CFE) is a specialist in the detection and deterrence of a wide variety
of white collar crimes, from discovering employees or executives who misappropriate company assets
to assisting investors who are defrauded in the course of commercial transactions.
All Certified Fraud Examiners must meet the rigorous criteria for admission to the Association of Certified
Fraud Examiners. They must exemplify the highest moral and ethical standards and must agree to abide by the
bylaws of the Association of Certified Fraud Examiners "Code of Professional Ethics".
What Does A Certified Fraud Examiner Do?
A Certified Fraud Examiner is responsible for resolving allegations of fraud, obtaining evidence, taking
statements, writing reports, testifying to findings, and assisting in the prevention and detection of fraud and
white collar crime. Following are a few examples of some typical CFE functions.
A Certified Fraud Examiner in private practice was retained to examine evidence of fraud and to testify in a $350
million securities fraud case. His testimony helped recover $70 million.
A Certified Fraud Examiner employed in the internal audit department
of a bank headed the investigation of a $125,000 embezzlement case. The Certified Fraud Examiner
ultimately assisted authorities in the criminal prosecution of an officer of the bank.
A Certified Fraud Examiner in private practice provided litigation
support to an attorney involved in the trial of a civil fraud case. The CFE's expertise helped the
attorney win the case.
A Certified Fraud Examiner employed by the U.S. Government
advised a federal agency on ways to improve its ability to detect fraud in contracts, which
resulted in potential savings of millions of dollars.
Certified Fraud Examiner Qualifications
Certified Fraud Examiners must demonstrate professional skills in the areas of fraud detection or the
deterrence. A Certified Fraud Examiner must have a minimum of:
A bachelor's degree from a recognized institution.
Two or more years of professional experience in a related field.
Successful completion of the Uniform CFE Examination.
All prospective CFE's must first apply for Associate Membership. Those who wish to be
certified must apply to take the CFE Examination.
The Uniform CFE Examination assesses the candidate's expert knowledge in four areas:
Fraudulent Financial Transactions
Legal Elements of Fraud
Fraud Investigation
Criminology and Ethics
All Certified Fraud Examiners must exemplify the highest moral and ethical standards and
must agree to adhere to the Certified Fraud Examiner Code of Professional Ethics.
CFE's are also required acquire at least 20 credit hours of continuing professional education a
year.
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