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Exam Information
Official specifications published by ACFE
Exam Format
120 min
100
75%
Professional
Registration
$475 USD
Prometric Testing Centers, Remote Online Proctoring (ProProctor), or online proctoring
Validity
Continuous with CPE requirements
Complete 20 CPE credits annually (10 fraud-related, 2 ethics-related); Maintain ACFE membership in good standing; Pay annual CPE reporting fee
CFE-INVESTIGATION Exam Topics and Domains
CFE-INVESTIGATION is organized into 9 weighted domains.
1
Interview Theory and Application
Interview Preparation and Planning
Pre-interview Research and Case ReviewInterview Environment Setup
- Understand how to properly prepare for fraud examination interviews
- Identify appropriate interview environments and settings
- Develop interview strategies based on case circumstances
Building Rapport with Interviewees
Rapport-Building Techniques
- Apply rapport-building techniques in fraud investigations
- Understand the importance of trust in obtaining admissions
Detecting Deception
Verbal and Non-Verbal Deception IndicatorsQuestion Techniques for Detecting Deception
- Recognize signs of deceptive behavior during interviews
- Understand limitations and myths of deception detection
- Apply effective questioning to identify inconsistencies
Admission-Seeking Interviews
The Nine-Step Interview MethodRationalization Techniques
- Apply the nine-step admission-seeking interview method
- Use rationalization techniques ethically to obtain admissions
- Handle denials and objections during interviews
Taking Signed Statements
Written Statement Requirements
- Prepare legally admissible written statements
- Ensure statements meet evidentiary requirements
- Understand voluntariness and coercion issues
Interview Documentation
Recording and Note-Taking Methods
- Properly document fraud examination interviews
- Understand legal requirements for recording
- Maintain chain of custody for interview evidence
2
Data Analysis and Reporting Tools
Data Mining Techniques
Identifying Fraud Patterns in Large Datasets
- Apply data mining techniques to fraud detection
- Identify anomalies and patterns indicating fraud
- Use statistical methods to analyze large datasets
Predictive Analytics
Predictive Analytics Fundamentals
- Understand predictive analytics concepts
- Apply machine learning principles to fraud detection
- Recognize limitations of automated fraud detection
Accounts Payable Analysis
Detecting Billing Fraud
- Analyze accounts payable data for fraud indicators
- Detect shell companies and fraudulent vendors
- Identify billing scheme red flags
Financial Statement Analysis
Analytical Procedures for Fraud Detection
- Apply analytical procedures to detect financial fraud
- Identify financial statement manipulation indicators
- Use ratio and trend analysis in fraud investigations
Link Analysis
Relationship Mapping and Network Analysis
- Perform link analysis to identify fraud networks
- Create visual representations of complex schemes
- Track relationships between entities and individuals
3
Digital Forensics
Digital Evidence Preservation
Forensic Imaging and Data AcquisitionComputer Seizure Procedures
- Properly preserve and collect digital evidence
- Maintain chain of custody for electronic records
- Ensure data integrity throughout the forensic process
- Understand legal requirements for digital evidence seizure
Recovery of Deleted Files
File Recovery Techniques
- Understand file deletion and recovery processes
- Apply file recovery techniques in investigations
- Recognize when deleted data can be recovered
Mobile Device Forensics
Mobile Evidence Acquisition
- Apply mobile device forensic techniques
- Understand unique challenges of mobile evidence
- Properly preserve smartphone and tablet evidence
Network Traffic Analysis
Network Forensics Fundamentals
- Analyze network traffic for investigation purposes
- Examine network logs and email headers
- Identify unauthorized network access
Cloud Forensics
Cloud-Based Evidence Collection
- Understand cloud forensics challenges
- Navigate legal issues with cloud-based evidence
- Work with cloud service providers for evidence collection
Dark Web Investigations
Investigating .onion Sites and Dark Web Activity
- Understand dark web infrastructure and risks
- Investigate dark web fraud activities safely and legally
- Recognize dark web-related fraud schemes
Electronic Payment Tracing
Digital Payment Systems Analysis
- Trace electronic payments in fraud investigations
- Understand various digital payment systems
- Analyze transaction records for fraud indicators
4
Planning and Conducting a Fraud Examination
Investigation Planning and Management
Developing Investigation Plans
- Develop comprehensive fraud investigation plans
- Allocate resources effectively for examinations
- Set appropriate investigation objectives and timelines
Evidence Collection Procedures
Legal and Proper Evidence Gathering
- Collect evidence in legally admissible manner
- Maintain proper chain of custody
- Understand evidence types and admissibility requirements
- Prevent evidence spoliation
Case Management
Organizing and Managing Investigation Files
- Organize and manage investigation files effectively
- Track evidence and investigation progress
- Maintain professional case documentation
Legal Considerations
Legal Framework for Investigations
- Understand legal constraints on investigations
- Navigate privacy laws during examinations
- Recognize when legal counsel is needed
- Handle cross-border investigation issues
Coordination with Law Enforcement
Working with Criminal Investigators
- Determine when to involve law enforcement
- Coordinate effectively with criminal investigators
- Understand differences between civil and criminal standards
- Manage parallel investigation processes
Internal vs External Investigations
Investigation Types and Approaches
- Distinguish between internal and external investigations
- Conduct independent and objective examinations
- Protect legal privilege during investigations
- Apply appropriate investigation approaches
5
Sources of Information
Public Records Searches
Types and Sources of Public Records
- Identify available public record sources
- Access and interpret public records
- Use public records in fraud investigations
Background Investigations
Conducting Background Checks
- Conduct thorough background investigations
- Understand legal limits on background checks
- Verify employment and education credentials
- Navigate privacy laws in background research
Asset Searches
Locating and Tracing Assets
- Conduct comprehensive asset searches
- Identify hidden or concealed assets
- Use public records to trace property ownership
- Handle international asset investigations
Locating People
Skip Tracing and People Location
- Apply skip tracing techniques to locate individuals
- Use social media and online sources ethically
- Access public databases for people searches
- Navigate privacy issues in locating people
Confidential Informants
Using and Managing Informants
- Develop and manage confidential informants ethically
- Understand legal requirements for informant use
- Properly compensate and document informants
- Corroborate information from confidential sources
- Protect informant safety and identity
Internet and Social Media Investigations
Online Research and OSINT
- Apply OSINT techniques to fraud investigations
- Conduct legal social media investigations
- Preserve online evidence properly
- Navigate privacy issues in online research
Financial Institution Records
Obtaining Bank and Financial Records
- Obtain financial records through proper legal channels
- Understand regulatory reporting requirements
- Navigate privacy laws for financial information
- Interpret bank records and financial documents
Government Records Access
Federal and State Government Records
- File effective FOIA requests
- Access public corporate and government records
- Understand restrictions on tax information
- Navigate federal and state records systems
6
Covert Examinations
Surveillance Techniques
Physical Surveillance Operations
- Understand legal surveillance techniques
- Recognize legal limitations on surveillance
- Document surveillance activities properly
- Determine when surveillance is appropriate
Undercover Operations
Undercover Investigation Methods
- Understand when undercover operations are appropriate
- Recognize legal and ethical limits on undercover work
- Plan safe undercover operations
- Document undercover findings properly
Risk Management in Covert Operations
Managing Risks in Covert Investigations
- Assess and manage risks in covert operations
- Implement safety protocols
- Develop exit strategies for covert work
- Minimize legal and reputational risks
7
Analyzing Documents
Document Examination Techniques
Physical Document Analysis
- Recognize signs of document alteration
- Understand basic document examination principles
- Know when to consult forensic document examiners
- Properly preserve questioned documents
Electronic Document Analysis
Digital Document Forensics
- Examine electronic document metadata
- Detect digital document manipulation
- Verify electronic document authenticity
- Use document forensics in investigations
Document Authentication
Verifying Document Authenticity
- Authenticate questioned documents
- Recognize common document fraud schemes
- Identify security features in documents
- Maintain chain of custody for documents
Red Flags in Documentation
Common Document Fraud Indicators
- Recognize document fraud red flags
- Identify suspicious documentation patterns
- Determine when documents need expert examination
- Apply fraud detection skills to document review
8
Tracing Illicit Transactions
Financial Transaction Tracing
Following Money Through Accounts
- Trace funds through financial accounts
- Analyze bank statements for fraud
- Document money movement in investigations
- Identify suspicious transaction patterns
Money Laundering Detection
Money Laundering Schemes and Indicators
- Identify money laundering schemes
- Recognize money laundering red flags
- Understand money laundering process stages
- Apply AML knowledge to investigations
Asset Tracing Methods
Locating and Tracing Assets
- Apply asset tracing methodologies
- Conduct net worth and expenditure analyses
- Identify fraudulent asset transfers
- Track proceeds of fraud schemes
Loan Proceeds Tracing
Following Loan Funds
- Trace loan proceeds through financial systems
- Detect loan fraud and misappropriation
- Verify proper use of loan funds
- Document loan fund movements
Hidden Account Identification
Finding Undisclosed Accounts
- Identify hidden financial accounts
- Detect offshore and nominee accounts
- Trace international fund transfers
- Recognize indicators of concealed accounts
Cryptocurrency Tracing
Tracing Digital Currency Transactions
- Understand cryptocurrency tracing basics
- Apply blockchain analysis to investigations
- Identify cryptocurrency fraud schemes
- Recognize challenges in crypto tracing
Shell Company Investigations
Identifying and Investigating Shell Companies
- Identify shell company indicators
- Determine beneficial ownership
- Trace funds through shell entities
- Investigate shell company fraud schemes
9
Report Writing
Investigation Report Structure
Organizing Investigation Reports
- Structure professional investigation reports
- Write clear executive summaries
- Organize findings logically
- Include all necessary report components
Clear and Concise Writing
Professional Report Writing Skills
- Write clearly and concisely
- Adapt writing style to audience
- Use plain language effectively
- Avoid common report writing errors
Objective Reporting
Maintaining Objectivity and Impartiality
- Write objective, unbiased reports
- Distinguish facts from opinions
- Support conclusions with evidence
- Present information impartially
Evidence Presentation
Documenting and Presenting Evidence
- Present evidence clearly in reports
- Use visual aids effectively
- Create timelines and charts
- Cite sources properly
Confidentiality and Legal Considerations
Protecting Report Confidentiality
- Protect report confidentiality
- Maintain legal privilege
- Control report distribution
- Understand redaction requirements
Supporting Documentation
Work Papers and Evidence Files
- Maintain proper work papers
- Organize evidence files effectively
- Develop document retention practices
- Create audit trails for reports
How do I earn this certification?
Passing CFE-INVESTIGATION earns the Certified Fraud Examiner certification. It sits in the Fraud Examination and Investigation track.
Current Level Exams
- cfe-financial-transactions - CFE Financial Transactions and Fraud Schemes Tests knowledge of accounting, auditing, fraud schemes, and internal controls
- cfe-law - CFE LawFocuses on criminal/civil law, evidence, rights, and testimony
- cfe-fraud-prevention - CFE Fraud Prevention and DeterrenceExamines crime causation, occupational fraud, prevention, and ethics
Next Level Options
Advanced Certifications and Specializations ACFE offers various advanced training certificates and specializations • Deepen expertise in specific fraud examination areas
Alternative Paths
- Certified Public Accountant (CPA) Complementary credential for accounting professionals in fraud examination
- Certified Internal Auditor (CIA) Synergistic with fraud examination, especially internal fraud detection
- Certified Information Systems Auditor (CISA)Valuable for digital forensics and technology-related fraud cases
- Certified in Financial Forensics (CFF) Specialized forensic accounting credential complementing CFE
- Certified Forensic Accountant (Cr.FA) Additional ACFE credential for accounting-focused fraud examiners
Practice with Precision
The PlanetCert Simulator mirrors the real exam environment with authentic questions and timed pressure.
How to study for this exam?
Use the official PlanetCert Practice Test alongside the study plan below to prepare efficiently for CFE-INVESTIGATION.
What's changed on this exam?
Current Status
- ACTIVE
- Last content update: 2022-12
- Announcement date: 2024
Updates
- Artificial Intelligence and Machine Learning Likely expanded coverage in 2026 update
- Cryptocurrency and Blockchain Increased emphasis expected in Investigation section
- Cloud Forensics Growing importance as more data moves to cloud
- Mobile Device Forensics Continued relevance as mobile devices central to fraud schemes
- Data Analytics Tools Expanded coverage of modern analytics expected
Who should take this exam?
ACFE Associate Membership
Minimum 40 points on ACFE eligibility points system to take exam
Minimum 50 points on ACFE eligibility points system to be certified after passing