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How to Become a Fraud Prevention Associate

Career News January 3, 2014

Supply and demand is the name of the game in the field of fraud prevention. The need for companies to protect themselves is growing daily. According to recent reports released by the FBI, financial crimes continue to rise. These crimes affect each and every one of us in both our business and personal lives.

Whom can we turn to when fraud raises its ugly head? Who works tirelessly to analyze and prevent financial crimes? The everyday heroes whose jobs are just that! The gateway for these unmasked heroes has opened and their place is solidified as taking on the position of a Fraud Prevention Associate.

The field of fraud prevention is a wide open field and is charted to continue to grow according to the US Bureau of Labor Statistics. Entering this field of finance does not always require a Bachelor’s degree although it is generally preferred. Passing background, credit, and employment checks are vital as the content of the information these positions encounters is sensitive in nature.

Much like the military ranks their enlisted men and women, associates within the field of fraud prevention may gain “ranking” in correlation with experience. However, the groundwork of tasks contains common threads whether an associate is an entry level I or advanced level III. Prevention of fraudulent activity is at the forefront of their responsibility.

Prevention of fraudulent activity may be achieved by utilizing many methods in the field. A requisite of the associate is to research accounts to identify potential signs of fraud and analyze the signs to see if fraud exists and how it could be prevented in the future. During the course of analysis, it is the responsibility of the associate to identify areas that require an increase in security whether it is within the company’s procedures or software. When a need is revealed, it is an associate’s duty to research and report back possible solutions to advance security options.

Fraud prevention is relevant to many industries. Depending on the company, an associate in the field of fraud prevention will have company specific duties assigned in addition to the aforementioned guidelines. This position can work for a plethora of industries including, but not limited to, lending establishment, insurance providers, government agencies, and educational institutions.

In the demanding and growing financial field of fraud prevention, the Fraud Prevention Associate is a fundamental part of a team of unmasked heroes. It is this group of associates that keeps racing to be one step ahead of the fraudulent activities that damage our economic dynamics.

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