17 Fraud Investigator Interview Questions and Answers

Fraud investigators are responsible for preventing, detecting, and investigating fraudulent activities within a company. They work with other departments to develop policies and procedures to prevent and detect fraud, and they also work with law enforcement to investigate and prosecute criminals.

If you’re looking for a job as a fraud investigator, you’ll need to be prepared to answer some tough questions. In this guide, we’ll provide you with some sample questions and answers that will help you ace your interview and land the job.

Are you comfortable working with confidential information?

Fraud investigators often work with confidential information, such as financial records and client data. Employers ask this question to make sure you understand the importance of keeping company information private. In your answer, explain that you are committed to maintaining confidentiality at all times. Explain that you will only share confidential information with those who need it for their job.

Example: “Yes, I am comfortable working with confidential information. As a fraud investigator, I would be privy to sensitive information about clients and employees. I take my responsibility to maintain confidentiality seriously. I would never share confidential information unless it was necessary for someone else to know. For example, if I discovered an employee was committing fraud, I would have no choice but to report them.”

What are some of the most important skills for a fraud investigator?

Employers ask this question to make sure you have the skills necessary for the job. They want someone who is detail-oriented, organized and able to work independently. When answering this question, think about which skills you possess that are relevant to fraud investigation. You can also mention any additional skills you have that may be beneficial in this role.

Example: “I believe some of the most important skills for a fraud investigator are attention to detail, organization and communication. A fraud investigator needs to be able to notice small details like inconsistencies in financial records or changes in spending habits. I am very good at organizing information and finding patterns in data. Communication is also important because it allows me to share my findings with others and collaborate on cases.”

How would you approach an investigation if you were given very little information?

Interviewers may ask this question to assess your problem-solving skills and ability to work independently. Use examples from previous experiences where you had to gather information on your own or with little guidance.

Example: “In my last role, I was given a case that involved an employee who was suspected of stealing money from the company. The only information I had was that the employee worked in the accounting department and they were underperforming compared to their coworkers. I started by looking at the employee’s performance reviews and comparing them to other employees in the same position. After reviewing several employees’ performance reviews, I found one employee whose performance seemed to improve after the suspected employee joined the team.”

What is your process for investigating digital evidence?

Digital evidence is a common element in fraud cases, so employers want to make sure you have the skills and experience necessary to handle this type of evidence. When answering this question, explain your process for handling digital evidence and how you ensure that it’s handled properly.

Example: “I first look at all of the digital evidence I’m given and try to determine if there are any red flags or inconsistencies. If there are, I’ll then use forensic software to examine the evidence more closely. This helps me find any hidden information that may be relevant to my investigation. After examining the evidence, I store it securely until I can present it as part of my case.”

Provide an example of when you identified a lie during an investigation and how you used that information to further your investigation.

Interviewers ask this question to assess your ability to detect lies and use them to further an investigation. Use examples from previous work experience where you used a lie to help identify the truth in a case.

Example: “In my last position, I was investigating a fraud case that involved a client who claimed they never received their order. After speaking with the customer, I found out that they had actually placed multiple orders but never paid for any of them. When I asked about the unpaid orders, the customer said they didn’t remember placing those orders. This information helped me determine that the customer wasn’t being honest about not receiving their order.”

If you were given access to a company’s financial records and you noticed some unusual activity, what would be your first course of action?

This question is a great way to determine how much experience the candidate has in this field. It also shows that you are willing to take initiative and responsibility for your actions.

Example: “If I noticed unusual activity, my first course of action would be to investigate further. I would look at all transactions within a certain time period and compare them with previous records. If there were any discrepancies between the two sets of information, I would then contact the person who made the transaction to ask about it. This may seem like an obvious step, but many fraud investigators overlook it because they assume everything is legitimate.”

What would you do if you suspected a colleague of committing a form of fraud?

This question can help interviewers understand how you would handle a challenging situation at work. Use your answer to show that you are willing to report suspicious activity and support the company’s policies.

Example: “If I suspected a colleague of committing fraud, I would first try to gather as much evidence as possible before reporting it. If my suspicions were confirmed, I would talk with them about the issue in private and explain why their actions are unacceptable. Depending on the severity of the crime, I may also contact human resources or management to discuss what action should be taken.”

How well do you understand the legal implications of your actions as a fraud investigator?

Interviewers may ask this question to assess your knowledge of the law and how it applies to fraud investigations. They want to make sure you understand what is legal and what isn’t when conducting an investigation. In your answer, explain that you know the laws surrounding fraud and are committed to following them.

Example: “I am very familiar with the laws regarding fraud because I have worked in this field for many years. I always follow the law during my investigations so that I don’t get into any trouble. I also encourage my team members to do the same. We all know that if we break the law while investigating a case, we could lose our jobs or face other consequences.”

Do you have experience working with data analytics tools to investigate digital evidence?

Fraud investigators often need to analyze large amounts of data and information. Employers ask this question to make sure you have the necessary skills to complete your job duties effectively. In your answer, share which tools you’ve used in the past and how they helped you with your work.

Example: “I have experience using several different types of digital evidence analysis software. I find that these programs are extremely helpful for sorting through large volumes of financial documents and other data. One program I use is AccessData’s Forensic Toolkit, or FTK. This tool allows me to collect digital evidence from a variety of sources, including computers, mobile devices and cloud storage accounts. I can then sort through this evidence to find important details about an investigation.”

When investigating a case of embezzlement, what is your process for determining who the primary suspect is?

This question can help the interviewer determine how you apply your skills and experience to a specific task. Use examples from past cases to describe your process for investigating embezzlement, including how you identify potential suspects and gather evidence that supports or refutes their involvement in the crime.

Example: “In my last role as an investigator, I was assigned to investigate a case of embezzlement at a local business. After reviewing the company’s financial records, I determined that there were several employees who had access to the funds. I then met with each employee individually to discuss the situation and ask questions about their work history and any personal issues they may have been experiencing at the time. This helped me narrow down the list of primary suspects.”

We want to improve our fraud prevention measures. What strategies would you implement to improve our current system?

This question allows you to show your problem-solving skills and ability to implement change. When answering this question, it can be helpful to describe a specific situation where you implemented a new system or process that helped improve an organization’s fraud prevention measures.

Example: “I would first evaluate the current system for any areas of improvement. I would then create a plan to implement more effective methods of preventing fraud. For example, in my last role as a fraud investigator, we had a client who was experiencing high levels of chargeback fraud. We analyzed our current system and found that there were some areas we could improve upon. After implementing these changes, we saw a significant decrease in chargeback fraud.”

Describe your experience working with other law enforcement agencies to investigate cases of fraud.

Fraud investigators often work with other law enforcement agencies to investigate cases of fraud. Employers ask this question to learn more about your experience working in a team environment and collaborating with others. In your answer, share what you learned from these experiences and how they helped you develop your skills as a fraud investigator.

Example: “In my last role, I worked closely with the local police department on several cases of fraud. The police officers were always willing to help us when we needed it, but they also provided valuable insight into their investigations. For example, one time we had a case where someone was using stolen credit cards to purchase expensive items online. The police officer told me that most criminals do this because they know it’s unlikely they’ll be caught. He suggested we look for patterns in the purchases to see if there are any similarities between them.”

What makes you an ideal candidate for this position?

Employers ask this question to learn more about your qualifications and how you can contribute to their company. Before your interview, make a list of all the skills and experiences that make you an ideal candidate for this role. Focus on highlighting your relevant experience and soft skills.

Example: “I am passionate about preventing fraud in organizations because I know it’s important to protect people’s money and personal information. In my previous position as a fraud investigator, I helped uncover fraudulent activity within our organization by using my investigative skills and knowledge of computer systems. This allowed me to find patterns of suspicious behavior and prevent millions of dollars from being lost.”

Which industries have you investigated in the past and how would you apply those experiences to this position?

This question is an opportunity to show the interviewer that you have experience in a similar role and can apply your skills from previous positions. When answering this question, it’s important to highlight how your past experiences will help you succeed in this new position.

Example: “In my last position as a fraud investigator for a large bank, I investigated suspicious transactions on customer accounts. In my current role as a private investigator, I’ve worked with clients who were victims of identity theft. Both of these experiences have given me valuable insight into how to investigate fraudulent activity and protect customers.”

What do you think is the most important aspect of preventing fraud?

This question can help the interviewer determine your knowledge of how to prevent fraud. Use examples from your experience that show you understand what steps to take to reduce instances of fraud in a company.

Example: “I think it’s important to have an effective fraud detection system in place. I’ve worked with companies who don’t have one, and they often end up losing money because of employees who are committing fraud. A good fraud detection system is something I always make sure my employer has so we can avoid these issues. In my last role, I helped implement a new fraud detection system that reduced our instances of fraud by 50%.”

How often do you conduct audits to ensure your records are accurate and up-to-date?

This question can help the interviewer determine how often you conduct audits and whether your company’s records are accurate. Use examples from past experience to show that you know how to audit records and ensure they’re up-to-date.

Example: “I perform audits at least once a month, but I prefer to do them every two weeks. This allows me to check all of our records regularly so I can make sure everything is accurate. In my last role, I performed an audit every two weeks, which helped us find any discrepancies in our records before they became major issues.”

There is a high-profile case of fraud that you’re not allowed to investigate. How do you feel about this?

This question is a way for the interviewer to assess your feelings about working on high-profile cases. High-profile cases are often more challenging because they attract media attention and require extra security measures, which can be time-consuming. Your answer should show that you’re willing to work on these types of cases if necessary.

Example: “I would feel disappointed but understand why I wasn’t allowed to investigate this case. I am confident in my abilities as an investigator and know that there are other fraud investigators who could do a great job with this case. I would use this opportunity to learn from them and apply what I learned to future investigations.”