How much does a Bank of America Fraud Investigator make?
How much does a Fraud Investigator make at Bank of America in the United States? Average Bank of America Fraud Investigator yearly pay in the United States is approximately $40,727, which is 18% below the national average.
What does a fraud analyst do at Bank of America?
Reviews complex products for the prevention and detection of possible Fraud. Responsible for research and analysis of account activity to assess levels of risk and fraud. The incumbent will complete inbound and outbound calls and take appropriate action based on transaction characteristics of greater complexity.
Do fraud analysts make good money?
The typical Fraud Analyst salary is $43,610. Salaries can range from $16,156 – $214,071. When factoring in additional pay and benefits, Fraud Analyst in United States can expect their total pay value to be on average $57,534.
What does a bank investigator do?
A financial or bank investigator analyzes financial statements, bank records, government databases and other sources to identify fraud or other instances of financial crime. He conducts a preliminary investigation to confirm a violation has occurred, then obtains relevant documents and testimony from involved parties.
What should I do after fraud analyst?
Top Careers After Fraud Analyst
- Customer Service Representative(178,341 Jobs) 26.4 %
- Cashier(261,448 Jobs) 7.6 %
- Senior Fraud Analyst(13,294 Jobs) 6.5 %
How can I join fraud?
Here is one pathway to pursue a career in fraud investigation:
- Step 1: Earn a bachelor’s degree in forensic accounting, criminal justice, or a related field (four years).
- Step 2: Get some experience in the field (one to three years).
- Step 3: Pursue certification through a professional organization (less than one year).
What is it like being a fraud analyst?
Fraud analysts are responsible for monitoring bank accounts, accounting paperwork, and financial transactions. They analyze the data to identify any fraudulent and suspicious activities within an organization. Their duties and responsibilities may vary depending on which industries they work in.
How do I become a fraud detection analyst?
Requirements and Qualifications
- Bachelor’s degree in criminal justice or computer science (preferred)
- Proficiency with fraud detection software and tools.
- Creative problem-solving abilities.
- Attention to detail.
- Superb written and verbal communication skills.
How do you start a fraud investigation?
7 Steps for Conducting a Fraud Investigation
- Step 1: Receive and react to an allegation.
- Step 2: Establish an investigative team.
- Step 3: Conduct a preliminary assessment.
- Step 4: Preserve and collect evidence.
- Step 5: Analyze financial, business, and electronic records.
- Step 6: Conduct interviews.
- Step 7: Report the findings.
How long does it take to do a fraud investigation?
If you report a fraudulent transaction, your bank has to investigate the charges and refund your money within 10 days. Your bank can extend the investigation timeline to 45 days if you receive provisional credit of a refund within 10 days of making your claim.
How do you conduct a fraud interview?
The following are five key steps in making your one-on-one interviews significantly more successful.
- Timing Of The Interviews. Interviews are often the most useful tool in uncovering fraud.
- Select the Right Individuals.
- Set a Relaxed Tone.
- Ask The Right Questions.
- Don’t Give In / Be Persistent.
Do banks actually investigate fraud?
Do Banks Really Investigate Disputes? Yes. They do so as a protection service for their customers so that they don’t have to worry about the ever-increasing sophistication of fraud.