Master in Fraud Investigation

Fraud Management

Nowadays the most widely occurring crimes involve fraudulent activities. These activities affect businesses and individuals worldwide. Hence there is an increasing need for professionals with fraud examination skills. These individuals help organizations in detecting and eliminating fraud through forensic accounting and other techniques. Thus a business management degree focusing on fraud management skills is becoming increasingly popular.

MBA in Fraud Management

The program constitutes a curriculum in business with courses in fraud detection and prevention and financial investigation. It prepares graduates for fraud management career in various industries such as banking, insurance, credit card, retail, telecommunications and financial services.  

These days, various online MBA programs in Fraud Management are offered.  These programs provide a flexible distance learning experience. They also enable busy professionals to continue work while learning. The program may be completed in a time period of two years, but the duration may vary depending on the program and candidate’s enrollment status.  

By the end of the program, students learn the following skills:

• To find out complex problem and implement solutions using critical thinking skills;
• Competency in technological skills;
• Effective communication skills;
• Strong leadership and team building skills;
• Identify and examine various ethical and legal issues in management.

Curriculum

The curriculum may constitute business core courses, economic crime core courses, and electives. The economic crime courses involve course concentrations in fraud management. The course list may include the following:

• Core topics in management
• Managerial economics
• Financial reporting and analysis
• Advanced financial management
• Strategic management and leadership
• Quantitative analysis for management
• Management for fraud prevention and detection
• Legal and regulatory issues for fraud management
• Fraud management seminar
• Advanced fraud investigation and analysis
• Forensic accounting
• Assurance and forensic accounting
• Information and communication security

Contrary to popular belief, there are universities that offer masters in fraud investigation as well. However, masters in fraud management are more widely offered. Please note that the above mentioned curriculum is typical for many programs, but it may vary from one institute to another.  

Career Outlook

MBA graduates in fraud management may work in a variety of professions in both public and private sectors. They may work in areas such as fraud investigation, examinations, analysis, and compliance. They may also undertake various research and leadership positions in government, corporate businesses or retail. Following lists some of the careers graduates may pursue:

• Fraud Examiner/Investigator
• Government Accountant
• Independent Auditor
• Forensic accountant
• Internal Auditor
• Financial Examiner
• Compliance officer
• Law Enforcement personnel

Fraud investigators gather evidence and prepare reports. They also testify the findings about resolution of fraud cases.  They may also supervise various fraud detection and prevention activities. According to O*net Online, the median annual salary for fraud investigators was $61,160 in 2012. The tasks of financial examiners include ensuring compliance with laws related to financial institutions and real estate transactions. The median annual wage of financial examiners was $75,800 according to O*net Online.