• bixek68757 posted an update 1 year, 7 months ago

    Fraud Recovery Experts – How to Become a Fraud Recovery Expert in 2020

    In this article, we will talk about what makes a good fraud recovery expert, what type of experience and education is required, how to land a job, and what you can expect in the salary range. The next few sections of this article will discuss the most important factors to consider when deciding which field to pursue. For the most part, this list is pretty straightforward: education and experience. However, it is important to note that it is still important to look at the various salary ranges that are available.
    Education

    As the country grapples with a new outbreak of the coronavirus, more money is being allocated to schools and states by the U.S. Department of Education. These funds are meant to support schools during difficult times, but the Office of Inspector General (OIG) is tasked with monitoring how these funds are spent and investigating fraud. With this in mind, fraud recovery experts are in high demand.

    With more than 600 billion dollars going towards education every year, federal, state, and local governments have an enormous financial stake in ensuring that children are receiving a quality education. This vast budget for education is a prime target for fraud, and whistleblowers can earn substantial rewards. Luckily, the United States has a robust whistleblower reward system that encourages the public to report fraud. These individuals can share in the money recovered by the government.
    Experience

    The growing need for fraud recovery experts is based on several factors. For one, the fraud economy is constantly evolving, with criminals always on the lookout for the next big thing. Businesses that sell consumer-facing products should consider preemptive fraud detection strategies and solutions. These measures will not only protect your company from future lawsuits, but they will also ensure that your bottom line remains healthy. Experienced fraud recovery experts can help you avoid such pitfalls and keep your customers happy.

    Forensic accountants with a strong track record in asset recovery matters should be considered. David Dearman of Mazars is recommended by peers. Another highly rated expert is Guillermo Jorge with over 25 years of experience. Listed forensic accounting firm BDO’s Stephen Saunders is also a top choice for clients. This list also includes some of the most experienced and reputable asset recovery practitioners.

    As the consumer adoption of digital channels increases, so does the amount of fraud. The rate of suspected digital fraud attempts worldwide increased by nearly 50% from 2019 to 2021. The largest increase was seen in shipping fraud and business identity theft, which are both linked to digital platforms. Furthermore, as more organisations embrace digital channels, new predators are gaining strength. This leaves financial services companies more vulnerable than ever before. Experienced fraud recovery professionals can provide the expertise needed to combat the growing fraud epidemic and mitigate the losses.

    To become a Fraud Recovery Specialist, you should have at least a bachelor’s degree. Some Fraud Recovery Specialists do not attend college, but it is still necessary to have some educational background. A bachelor’s degree in business, criminal justice, or psychology is a common educational requirement. However, if you don’t have a college degree, you should consider attending law school to become more knowledgeable in this area.
    Companies hiring

    More companies are employing fraud recovery experts to protect their reputation, recover lost funds, and minimize financial losses. The FTC tracks fraud in the employment sector, and reports a sharp increase in scams related to work-at-home plans and multi-level marketing schemes. With the worst recession since the Great Depression, and nearly 26 million Americans receiving unemployment benefits, fraud recovery experts are in high demand. They’ll work on difficult calls and outbound campaigns, and verify anti-money laundering alerts.

    These professionals typically earn Bachelor’s and Master’s Degrees, although a Doctorate Degree is also a great option. Educating for a career as a fraud investigator is similar to that of a fraud specialist, with a Master’s Degree and a few degrees less common. However, it’s possible to become a Fraud Specialist by working in-house at a large company or consulting firm.
    Salaries

    Salary ranges for fraud recovery experts vary widely. According to ZipRecruiter, fraud recovery investigators can make anywhere from $22,000 to $115,500 per year. Salary ranges also vary based on location. However, most fraud recovery investigators earn between $32,000 and $56,000. According to the site, salaries for fraud recovery investigators are highly dependent on their specific location. According to ZipRecruiter, there are numerous opportunities for advancement and pay increase.

    As of March 2020, the average salary for fraud detection and recovery specialists is $46,766. The top 1% of earners earn up to $85,000 annually. However, salaries vary by location and years of experience. Listed below are Refundee top 10 cities for fraud detection and recovery specialists. If you are considering a career in this field, moving to one of these cities may be a smart move. And don’t forget to check out the job outlook before taking the plunge!