B.S. in Fraud and Financial Crime Investigation: Career Outlook

Protect critical assets and become essential anywhere.

Whether the attack comes from outside hackers or employees within, no sector is safe from fraud. Banks, governmental institutions, educational systems, healthcare organizations, and retailers are all facing the same reality: Preventing exploitation by hiring a professional examiner or investigator is much more cost-effective than becoming its latest victim.

  • Data breaches in the U.S. have spiked. 1,579 breaches in 2017 mark a 44.7% increase over 2016.1
  • Every dollar of fraud costs businesses roughly $2.67 in refunds, fees, interest, and labor2
  • Companies are estimated to lose 5% of their total annual revenue to internally committed fraud, with half involving exploitation of internal control weaknesses3

With your Bachelor of Science in Fraud and Financial Crime Investigation from Utica College, you'll be ready to fight against fraud and enter a rewarding and profitable career. The Bureau of Labor Statistics reports opportunities for financial examiners will grow by 10 percent between 2016 and 2026 and shows a current median income of $81,690, with the top 10 percent earning more than $153,850.4

Financial Examiner

$81,690/year

As a financial examiner, you would monitor the activities and systems of financial institutions, evaluate processes and practices for vulnerabilities and risk, and make recommendations to improve financial stability.4

Fraud Investigator

$64,690/year

As a fraud investigator, you would gather and analyze evidence, conduct interviews and interrogations, and build a case to identify and bring responsible parties to justice.5,6

Forensic Accountant

$65,607/year

By carefully analyzing financial data, forensic accountants are able to trace the path of funds through accounting systems and processes to identify where fraud has occurred and identify those responsible.7,8

Additional roles for fraud and financial crime experts:

  • Fraud Detection Analyst ($54,296/year)9
  • Insurance Claims Investigator ($52,559/year)10
  • Fraud Prevention Analyst ($49,297/year)11
  • Internal Auditor ($56,282/year)12

 
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          Choose Between Two Economic Crime Concentrations

          Utica College's B.S. in Fraud and Financial Crime Investigation offers concentrations in two unique areas of economic crime investigation, offering you different outcomes and career and credential paths.

          These concentrations were developed in coordination with Utica's Economic Crime and Cybersecurity Institute, a leader in studying economic crime for more than 20 years.

          Key Skills Employers Need

          • Identify primary components of economic crime detection, investigation, and prevention

          • Understand and discuss criminology theories explaining the causation of economic and white-collar crime

          • Conduct fraud examinations and investigations by applying accounting principles

          • Distinguish key economic crime and criminal typologies applied to characteristics of specific economic crimes

          • Apply law and regulations related to fraud in public- and private-sector organizations

          • Examine the impact of implementing private- and public-sector ethics programs for economic crime prevention

          • Explain the role of technological advances in the field of economic crime investigation

          Beyond the Degree

          We have the tools to help you make your next career move:

          One-on-One Mentors

          Work with your program director and professors for professional mentorship and support.

          Job Search Assistance

          Build your résumé, do mock interviews, and find new opportunities in your area.

          Career Counseling

          Have our experts review your résumé and LinkedIn and learn to stand out from the crowd.

          UC Career Connect

          Register for events, create a visual profile for employers, and apply for jobs and internships through our online portal.

          SOURCES:

          1ITRC Identity Theft Resource Center (2018). 2017 Annual Data Breach Year-End Review. Retrieved on December 3, 2018, from https://www.idtheftcenter.org/2017-data-breaches/
          2LexisNexis Risk Solutions (2018, March 1). "U.S. Financial Service Companies Spend $2.67 for Every Dollar of Fraud, LexisNexis Risk Solutions Survey Finds." Retrieved on December 3, 2018, from http://solutions.lexisnexis.com/fraud.tcof.lp-65303.t-92611
          3Association of Certified Fraud Examiners (2018). "2018 Report to the Nations." Retrieved December 3, 2018, from https://s3-us-west-2.amazonaws.com/acfepublic/2018-report-to-the-nations.pdf.
          4Financial Examiners. (2018, April 13). Retrieved December 2, 2018, from https://www.bls.gov/ooh/business-and-financial/financial-examiners.htm
          5Claims Adjusters, Appraisers, Examiners, and Investigators. (2018, April 13). Retrieved December 3, 2018, from https://www.bls.gov/ooh/business-and-financial/claims-adjusters-appraisers-examiners-and-investigators.htm
          6PayScale (2018). "Fraud Investigator: Salary." Retrieved December 3, 2018, from https://www.payscale.com/research/US/Job=Fraud_Investigator/Salary
          7PayScale (2018). "Forensic Accountant: Salary." Retrieved December 3, 2018, from https://www.payscale.com/research/US/Job=Forensic_Accountant/Salary
          8ACFE Association of Certified Fraud Examiners (2018). "Career Path/Accounting/Forensic Accountant." Retrieved December 3, 2018, from https://www.acfe.com/career-path-forensic-accountant.aspx
          9PayScale (2018). "Fraud Detection Analyst: Salary." Retrieved December 3, 2018, from https://www.payscale.com/research/US/Job=Fraud_Detection_Analyst/Salary
          10PayScale (2018). "Claims Adjuster/Examiner/Investigator: Salary." Retrieved December 3, 2018, from https://www.payscale.com/research/US/Job=Claims_Adjuster_%2F_Examiner_%2F_Investigator/Salary
          11PayScale (2018). "Fraud Prevention Analyst: Salary." Retrieved December 3, 2018, from https://www.payscale.com/research/US/Job=Fraud_Prevention_Analyst/Salary
          12PayScale (2018). "Internal Auditor: Salary." Retrieved December 3, 2018, from https://www.payscale.com/research/US/Job=Internal_Auditor/Salary