How Do I Become a Fraud Analyst?

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  • Written By: N. Madison
  • Edited By: Rachel Catherine Allen
  • Last Modified Date: 31 March 2020
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A fraud analyst usually works to identify methods people use to commit fraud, spot and stop fraud, and evaluate ways to lower the risk of fraud. Though requirements vary when it comes to becoming a fraud analyst, an employer will likely consider you for this job if you have a high school diploma and have earned a college degree as well. Requirements for your major may depend on the company, but many prefer candidates with degrees in a field like business administration, finance, or information systems management, or criminal law. Additionally, you will likely need at least a couple of years of related experience to become a fraud analyst.

Your educational background is important in pursuing this career. You will typically need not only a high school diploma or a general educational development (GED) credential but also a college degree. The major you choose in pursuit of this career might benefit you most if it is finance-related or provides you with computer and technological knowledge you can use for this job. For instance, you might consider earning an information systems management degree or choosing a major related to criminal justice, law, or law enforcement. Additionally, you might consider earning a master’s degree in one of these fields to better your chances of becoming a fraud analyst, job, as some employers prefer candidates with graduate education.


Most employers will also consider your previous work experience when you want to pursue this career. Experience in business administration, finance, information systems, or risk operations jobs may benefit you as you compete to become a fraud analyst. Likewise, you might stand out among other applicants if you have experience in a fraud prevention job or have worked in risk management. Additionally, you may need experience performing investigations or working as a credit analyst to land some jobs in this field.

The skills and knowledge you possess will likely matter a good deal when you want to become a fraud analyst. You will likely need to be detail-oriented and have good analytical skills in order to spot signs of fraud. Problem-solving skills are usually required, and you will likely need excellent multi-tasking and communication skills as well. Much of the work you do in this job may involve private information, so you will typically need a commitment to following your employer’s confidentiality procedures. Additionally, many employers will expect you to stay abreast of fraud, transaction, and collection laws and procedures when you want to become a fraud analyst.


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