What does a Fraud Analyst do?

Fraud analysts work in organizations including insurance companies, banks, or realtors to detect and deter deceitful actions. They strive to resolve fraud cases including identity theft or unauthorized usage of credit or debit cards. Once they are alerted of potential fraud incidents, they ask questions, fill out paperwork, assist with refunds, and change account numbers. Fraud analysts also seek to discover the source of the fraud, and they notify proper authorities.

Fraud analysts examine data and fraudulent activity to brainstorm new techniques to help prevent future fraudulent activity from happening. Notably, fraud analysts are often called upon to assist with more traditional incidents and cases, including false identifications or fake claims. The increase in use and reliance upon technology has created new opportunities for fraudsters to pinpoint and target victims digitally, and fraud analysts assist in these incidents. Fraud analysts need a bachelor's degree in finance, computer science, or a related job field.

EducationBachelor's Degree
Work/Life Balance
3.5 ★
Salary Range--
Career Opportunity
3.4 ★
Avg. Experience2-4 years

Fraud Analyst Salaries

Average Base Pay

£24,465 /yr
Same as national average
Not including cash compensation
See More Insights
£18K
Median: £24K
£34K
See More Insights
Glassdoor Estimated Salary

Fraud Analyst Career Path

Learn how to become a Fraud Analyst, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.

L2
Fraud Analyst
£24,465/yr
L3
Fraud Analyst Ii
£31,067/yr
See Career Path

Fraud Analyst Insights

Read what Fraud Analyst professionals have to say about their job experiences and view top companies for this career.
Bank of the WestBank of the West
Fraud Prevention Specialist
2 Sep 2019

“The management close to me were great and I believe truly cared about me and my career.”

CitiCiti
AML Analyst
14 Jun 2021

“Citi is definitely the best place if you really really love AML and want to pursue your career in AML.”

Edward Myers & AssociatesEdward Myers & Associates
Investigative Analyst
16 Apr 2021

“I remember EMA (now EMG) was terrifying to work for because there was no job security.”

Bank of ChinaBank of China
KYC Officer
11 Apr 2020

“opportunity to work in a different department within banking industry which i have worked in my first full time job.”

WiseWise
KYC
20 Sep 2019

“It's also a great place to grow your career and find yourself a position you never that you would be in before.”

Betway GroupBetway Group
AML Analyst
23 Jan 2020

“Salary is fairly good but if you value your career for your personal development DO NOT GO THERE because they have nothing valuable to offer”

Wynn WilliamsWynn Williams
AML Analyst
19 Sep 2021

“No work from home for me because I don't have a teammate but we can work from home during covid times”

CitiCiti
Senior AML Analyst
26 Oct 2021

“Flexible and good place to start your career”

See More

Fraud Analyst Interviews

Related Careers

Financial Analyst
£39,454
25% skills overlap
Risk Analyst
£36,956
25% skills overlap
Finance Manager
£52,309
Controller
£32,023
25% skills overlap

Fraud Analyst jobs

Frequently asked questions about the role and responsibilities of a fraud analyst

When working as a fraud analyst, the most common skills you will need to perform your job and for career success are AML, Methodology, Excellent Organizational, Written Communication and Microsoft Office Suite.

The most similar professions to fraud analyst are:
  • Financial Analyst
  • Risk Analyst
  • Finance Manager
  • Controller

The most common qualifications to become a fraud analyst is a minimum of a Bachelor's Degree and an average of 0 - 1 of experience not including years spent in education and/or training.