Investigation and detection of fraud as well as implementation of a program preventing fraud is the responsibility of a Counter Fraud Specialist.
Primary Objectives:
- The Counter Fraud Specialist is in charge of fraud management.
- This is the type of job that requires a wide range of skills and abilities.
- The Counter Fraud Specialists must prevent, detect and investigate any signs of external and internal fraud.
- The Counter Fraud Specialists assess the risks of fraud.
- The Counter Fraud Specialists make recommendations in controlling the risks.
The Counter Fraud Specialist must have the knowledge and experience in external and internal investigations. The Counter Fraud Specialist must possess the skills in preventing and detecting any fraud, irregularity and theft. Utilizing these specialist skills, the Counter Fraud Specialist must apply a comprehensive approach in dealing with all types of corruption and fraud.
Any allegations of procedural and financial irregularity will be received by the Counter Fraud Specialist. The Counter Fraud Specialist will also acquire any information that will prove or disprove the said allegations. Proofs gathered by the Counter Fraud Specialist by conducting interviews may include witness statements to support the investigation. Dealing with witnesses as well as those suspected of being involved in any fraudulent activity is a main part of evidence- gathering of a Counter Fraud Specialist. After undertaking investigations, the Counter Fraud Specialist also determines to what extent the fraudulent activities have been prevalent.
The Counter Fraud Specialist will then arrive at a conclusion and report to the management his findings and appropriate recommendations, as well as implementation timescales. The Counter Fraud Specialist also attends court hearings when necessary. It is also the job of a Counter Fraud Specialist to improve the organization’s policies and make an environment with fraud reduced to absolute minimum.
