The fraud specialists are in charge of fraud management.
They are responsible for investigation and detection of fraud as well as implementation of a program preventing fraud. They should also possess the skills in preventing and detecting any fraud, irregularity and theft. They even have to deal with witnesses as well as those suspected of being involved in any fraudulent activity is a main part of evidence gathering.
The Fraud Specialists must be able to do the following task in their job function:
- The fraud specialists must prevent, detect and investigate any signs of external and internal fraud.
- They assess the risks of fraud.
- They make recommendations in controlling the risks.
- They utilize specialist skills and apply a comprehensive approach in dealing with all types of corruption and fraud.
- They receive any allegations of procedural and financial irregularity.
- They acquire any information that will prove or disprove the said allegations.
- They conduct interviews that may include witness statements to support the investigation.
- They deal with witnesses as well as those suspected of being involved in any fraudulent activity is a main part of evidence gathering.
- They determine to what extent the fraudulent activities have been prevalent.
- They conclude and report to the management his findings and appropriate recommendations, as well as implementation timescales.
- They attend court hearings when necessary.
- They improve the organization’s policies and make an environment with fraud reduced to absolute minimum.
Skills and Knowledge the Fraud Specialist should possess:
- The fraud specialists are required to have a wide range of skills and abilities.
- They must have the knowledge and experience in external and internal investigations.
- They must possess the skills in preventing and detecting any fraud, irregularity and theft.