The Certified Fraud Examination Professional (CFEP) program is a rigorous certification designed to equip individuals with the knowledge and skills required to excel in the field of fraud examination. Fraud is a pervasive issue in today’s business landscape, and organizations require professionals who can effectively detect, investigate, and prevent fraudulent activities. The CFEP program offers a comprehensive curriculum covering fraud detection techniques, investigative procedures, legal considerations, and ethical standards, ensuring that graduates are well-prepared to combat fraud in various industries.

Certification Program Objectives:

Upon completing the Certified Fraud Examination Professional (CFEP) program, participants will be able to:

• Understand Fraud Fundamentals: Develop a comprehensive understanding of the fundamental principles of fraud, including its various types, methods, and psychological aspects.
• Master Detection and Investigation: Acquire the skills needed to detect fraud, conduct thorough investigations, and gather compelling evidence to support findings.
• Prevent Fraud: Learn proactive strategies and techniques for preventing fraud within organizations, including risk assessment and the implementation of internal controls.
• Navigate Ethical and Legal Challenges: Understand the ethical and legal considerations that guide fraud examination professionals, ensuring ethical conduct and compliance with relevant laws and regulations.

Certification Eligibility Criteria:

To apply for certification from The American Institute of Business and Management (AIBM) and its allied institutions, candidates must meet at least one of the following criteria:

• A Bachelor’s degree from a recognized institution

And/or

• 2 to 5 years of relevant work experience in the related professional field.

Note: Applicants who do not hold a Bachelor’s degree but possess exceptional professional experience and hold significant positions within their organizations in a relevant field may also be considered for certification on a case-by-case basis, subject to the approval of the AIBM evaluation committee.

Certifying Examination:

• To be certified as CFEP, student should take up a 1.5 hours online examination conducted by AIBM.
• The qualifying exam would consist of 50 multiple choice questions, testing core certification modules.
• Professionals with relevant experience and other qualifying criteria may be exempted from the examination.

Certification Modules:

• Module 1: Introduction to Fraud Examination
• Module 2: Fraud Prevention Techniques
• Module 3: Fraud Detection Methods
• Module 4: Investigation Techniques
• Module 5: Legal Elements of Fraud
• Module 6: Ethical Standards in Fraud Examination

* The modules of the certification are constantly updated and are subject to change.

Who Should Do This Certification:

The CFEP certification is meticulously designed for a wide range of professionals across diverse industries who are dedicated to addressing the complex and ever-evolving challenges posed by fraud. It is particularly beneficial for:

• Fraud Examiners and Investigators: Professionals actively engaged in investigating and analyzing fraudulent activities within organizations or as independent consultants. The CFEP certification enhances their expertise and credibility in the field.
• Financial Auditors: Auditors responsible for financial statement reviews and internal control assessments who seek a comprehensive understanding of fraud detection and prevention to strengthen their audit processes.
• Risk Management Specialists: Individuals involved in identifying, assessing, and mitigating risks within organizations, including fraud risk. CFEP certification provides them with specialized knowledge to address fraud-related risks.
• Compliance Officers: Professionals responsible for ensuring that organizations adhere to regulatory and ethical standards. CFEP certification equips them with tools to enhance compliance related to fraud prevention.
• Law Enforcement Personnel: Police officers, detectives, and investigators working to combat various forms of fraud, including white-collar crimes. The certification helps them develop advanced investigative skills specific to fraud.
• Private Investigators: Individuals operating in the private sector who need specialized expertise in fraud examination and investigation techniques to serve their clients effectively.
• Financial Analysts: Professionals in finance and investment who want to broaden their skill set to include fraud detection and prevention, which is essential for making informed investment decisions.
• Legal Experts: Lawyers and legal professionals dealing with fraud cases who need an in-depth understanding of the investigative and evidentiary aspects of fraud examination.
• Risk and Compliance Managers: Managers overseeing risk management and compliance functions within organizations, responsible for implementing fraud prevention measures and internal controls.
• Internal Auditors: Professionals conducting internal audits within organizations who aim to enhance their skills in identifying and addressing fraud risks as part of their audit processes.
• Business Owners and Executives: Entrepreneurs and top-level executives seeking to protect their businesses from financial losses due to fraud and establish a culture of fraud awareness.
• Aspiring Fraud Examiners: Individuals aspiring to enter the field of fraud examination and build a career dedicated to combating fraud in various sectors.

The CFEP certification equips professionals from various backgrounds with the knowledge and skills needed to effectively combat fraud, safeguard organizations from financial losses, and uphold ethical standards. Pursuing this certification is an invaluable investment in one’s career, enabling them to contribute significantly to fraud prevention and detection efforts in their respective roles.