10 Best Fraud Analytics Courses and Certifications Online

Fraud analytics is a crucial area of study for businesses, organizations, and individuals looking to detect, prevent, or mitigate fraudulent activities. With the increasing digitization of financial transactions and the rise of cybercrime, the need for professionals with expertise in fraud analytics has never been greater. Many online courses cater to this growing demand, offering training in a variety of topics related to fraud analytics. In this article, we will explore some of the best fraud analytics courses available online, highlighting their key features, benefits, and limitations.

Here’s a look at the Best Fraud Analytics Courses and Certifications Online and what they have to offer for you!

10 Best Fraud Analytics Courses and Certifications Online

1. Fraud Analytics using R & Microsoft Excel by Exam Turf (Udemy) (Our Best Pick)

The course “Fraud Analytics using R & Microsoft Excel” is designed to teach learners how to effectively work around pricing to find answers to key questions related to business analysis. It is a practical and quantitative course that utilizes sophisticated statistical tools like R and Tableau to analyze data.

The course covers a variety of topics including an introduction to fraud, different types of fraud, fraud analytics and its importance, traditional fraud detection method, fraud detection using a BIG data approach, fraud detection, prevention, and analytics.

The course is designed to provide learners with the most relevant techniques used by data analysts in companies around the world. It includes a case study on credit card fraud detection to help learners better understand how to apply what they have learned.

The course is divided into the following sections: Introduction, Types of Fraud and Detail Fraud Analytics, BIG DATA Approach, Case Study, and Conclusion. By the end of the course, learners will have gained a solid understanding of fraud analytics from a data scientist’s perspective.

2. Fraud Prevention, Dispute Resolution and PCI-DSS Masterclass by Vasco Patrício (Udemy)

The Fraud Prevention, Dispute Resolution and PCI-DSS Masterclass is a comprehensive course that covers the fundamentals of fraud prevention and monitoring, dispute resolution, and PCI-DSS requirements. The course is designed for payment professionals looking to diagnose and address any type of payment issue. It contains two courses: Fundamentals of Fraud Prevention and Monitoring, and Introduction to Payment Dispute Resolution.

The course covers various fraud techniques and dispute resolution frameworks, internal processes, fraud prevention tools and systems, and more. It is ideal for fraud monitoring professionals, payments professionals, commercial bankers, and other professionals looking to master the theory and practice of fraud prevention and dispute resolution.

The course is comprehensive and updated, providing relevant information on the types of fraud and disputes found nowadays. It is an 11-hour+ masterclass that includes modules on fraud prevention and monitoring, dispute resolution, and PCI-DSS. The course covers the essentials of how fraud is performed and prevented, as well as how disputes and chargebacks are initiated and managed.

The course is ideal for professionals dealing with fraud prevention or dispute resolution, as well as those interested in knowing more about fraud and disputes. It is specifically designed for those looking to know more about fraud execution, specific executions, fraud prevention systems, specific fraud prevention tools, and the role of both people and systems in fraud prevention. It is also suitable for those dealing with dispute management or resolution, or looking to know more about the different types of dispute resolution, or how to address disputes involving merchants and cardholders.

The course covers various fraud prevention techniques such as data verification, identity verification, and technology-based techniques, including fraud scoring and fraud rules. It also covers fraud prevention techniques that are actual processes of institutions, such as insurance, guarantees, manual reviews, and representment. Additionally, the course covers dispute resolution, including essential dispute-related terms, ADR, ODR, and guidelines for efficient dispute resolution as a merchant bank.

3. Payment Risk 101 by Sean Li (Udemy)

This course on Payment Risk 101, instructed by Sean Li, provides a comprehensive understanding of payment, payment risk, and fraud prevention methods. Li, a Certified Fraud Examiner and member of the MRC education committee, shares his experience and knowledge gained from working at PayPal and Google. The course covers topics such as pull/push payment, open-loop/closed-loop payment systems, card authorization, clearing, and settlement, chargebacks and refunds, ACH system, PSD2 and SCA, risk modeling, authentication, and more.

The course is designed for those who want to work in the payment industry or want to refresh their knowledge about payment and payment risk. The course has received over 5000 reviews with 4.0+ feedback and is comparable to the payment training that usually costs hundreds of dollars. As more companies invest in payment and payment risk management, the demand for payment risk/fraud-related jobs has increased three times in the last two years.

The course is divided into sections such as Payment Basics, Payment Regulation and Fraud Programs, Risk Statistics, Consumer Risk, Merchant Risk, and more. Students will learn about various payment systems, transaction types, fees, and risk factors associated with payment and fraud. They will also learn about risk modeling, hypothesis testing, and sampling methods used for fraud prevention.

The course covers topics such as Account Takeover Risk, Stolen Financial Risk, Non-Sufficient Funds Risk, and Merchant Risk. Li also explains how fraudsters try to avoid risk checks and provides case studies to illustrate various risk scenarios. The course concludes with Risk Strategies and Rules, where students will learn about various strategies and rules used for fraud prevention.

Enrolling in this course provides a cost-effective way to gain knowledge and skills in payment and payment risk management. Students can prepare for interviews or refresh their knowledge about payment and payment risk. This course is a valuable resource for those who want to work in the payment industry or those who want to improve their knowledge about payment and payment risk.

4. Forensic Accounting: Fraud Investigation! by Stefan Ignatovski, Ph.D. (Udemy)

The course titled “Forensic Accounting: Fraud Investigation” is designed to teach individuals about fraud examination, prevention, detection, and correction. The course is led by Stefan Ignatovski, Ph.D. and includes bite-sized, animated video lectures that are no longer than 5 minutes. These videos make learning easy and fun. Participants will also receive a free digital textbook upon enrollment.

Each video lecture is followed by a short quiz to assess participants’ knowledge, and each learning section includes a real-life case for participants to solve. The course covers topics such as the nature of fraud, skimming schemes, larceny schemes, and billing schemes.

The course is divided into five sections, including an introduction to the course, an introduction to forensic accounting and fraud investigation, and sections on skimming, cash larceny, and billing schemes. At the end of the course, participants will have a comprehensive understanding of how to prevent, detect, and correct fraud in their organization.

Enrolling in this course is an opportunity for individuals to learn about an exciting topic and learn like they have never learned before.

5. Real-time Credit card Fraud Detection using Spark 2.2 by Pramod Narayana (Udemy)

The Real-time Credit card Fraud Detection using Spark 2.2 course is instructed by Pramod Narayana. The course aims to teach students how to implement real-time credit card fraud detection using Spark Streaming, Spark ML, Kafka, Cassandra, and Airflow.

The course utilizes Spark Kafka and Cassandra to implement real-time credit card fraud detection. Pre-processing is done using Spark ML Pipeline Stages such as String Indexer, One Hot Encoder, and Vector Assembler. A machine learning model using the Random Forest Algorithm is created for fraud detection. Data balancing is implemented using K-means Algorithm. To integrate Spark Streaming Job with Kafka and Cassandra, custom offset management is used to achieve exactly-once semantics.

The course is divided into several sections, including Introduction, Real-time Fraud Detection Demonstration, and Code Walkthrough. Additionally, Airflow Automation framework is used to automate Spark Jobs on Spark Standalone Cluster.

6. Fraud Risk Analytics (Excel & AI based tools) and Prevention by SeaportAi . (Udemy)

The course titled “Fraud Risk Analytics (Excel & AI based tools) and Prevention” is offered by SeaportAi and aims to educate students on smartly detecting and preventing fraud. Fraud can affect any organization, and prevention is important as recovering costs from fraudsters is a challenging affair. The program covers both detection and prevention of fraud from both the operations and technology perspectives.

The course covers topics such as the characteristics and different types of fraud, how to detect and prevent fraud, the Benford Law, box plots to identify outliers, how AI can help detect fraud, and best practices in fraud management. The program provides tools and techniques for fraud detection that can be applied using Excel and AI. The course also includes a framework to assess the maturity of the organization for fraud management.

The course instructor is an industry veteran who has vast experience in fraud detection and prevention. The course content is divided into sections such as Introduction, Understanding Characteristics of Fraud, Framework to Assess Fraud Maturity, Understanding Different Types of Fraud, Fraud Analytics: Core Techniques to Detect Fraud Easily, How to Use Excel to Detect Fraud, Fraud Analytics: Power of AI, Anomaly Detection Using Power BI, Managing Fraud – Actions to Prevent Fraud, Process Approach to Detect and Prevent Fraud, Cost Recovery, Detecting Fraud Programmatically, Conclusion, and Bonus Lecture.

Overall, this course equips students with the knowledge and tools necessary to detect and prevent fraud effectively.

7. Predict fraud with data visualization & predictive modeling! by Mammoth Interactive, John Bura (Udemy)

This course, titled “Predict fraud with data visualization & predictive modeling!” is offered by instructors Mammoth Interactive and John Bura. The short description advertises the opportunity to create a credit card fraud detection model, while the longer description promotes learning in the areas of predictive modeling, logistic regression, and regression analysis.

Students are taught to use Artificial Intelligence (AI) for automation, including coding in Python, working with TensorFlow, and analyzing credit card fraud. The course offers both theory and practical examples to facilitate learning.

The course was funded through Kickstarter, and AI is introduced as code that can mimic certain tasks, such as predicting trends like the stock market or performing automated tasks. Examples of the latter include facial recognition and even cucumber picking by a farmer.

The course offers a beginner’s perspective on credit card fraud detection and is designed to teach theoretical knowledge as well as hands-on coding projects. It is offered through the Mammoth Interactive community, with enrollment currently available.

The course is divided into several sections including Introduction, Python Basics, TensorFlow Basics, Fraud Detection (Credit Card), Bootcamp Peek! Machine Learning Neural Networks, Explore the Keras API, Format Datasets and Examine CIFAR-10, Build an Image Classifier Model, Save and Load Trained Models, and Bonus Sections Source Material and Resources.

Overall, this course offers an opportunity to learn about AI and automated tasks, as well as gain practical skills in credit card fraud detection through Python and TensorFlow.

8. Forensic Accounting and Fraud Investigation by Riskpro Learning (Udemy)

The Forensic Accounting and Fraud Investigation course offered by Riskpro Learning is a digital certification program that aims to equip students with the necessary skills and knowledge to become a great forensic accountant in a short amount of time. The course focuses on various techniques used in preventing, detecting, and investigating financial statement frauds, which usually involve overstating assets, revenues, and profits and understating liabilities, expenses, and losses. There are two types of frauds in the world: frauds for the business and frauds against the business, and this course is primarily focused on the former.

The course content is divided into several sections, including an overview of frauds and forensic accounting, industry frauds, and practical and viable strategies to grow your business. All advice and suggestions in the financial statement fraud course come from investigations personally conducted by the course instructor. While there may be an element of guesswork involved due to the avoidance of naming target and subject companies, the lessons are not theoretical. The course instructor is also the author of a book on stock market and financial statement frauds, and many of the suggestions in the book are incorporated into the courseware.

By the end of the course, students are expected to have gained a solid understanding of forensic accounting techniques in the context of financial statement frauds. The course is suitable for those looking to enhance their skills in fraud investigation, as well as business owners or managers looking to prevent, detect, and investigate frauds in their organizations.

9. Identifying Procurement Fraud Risk by Stephen Tosh (Udemy)

Course Title: Identifying Procurement Fraud Risk

The course, “Identifying Procurement Fraud Risk,” offers an in-depth examination of the nature of procurement fraud and its typologies, including the various areas of the procurement lifecycle where fraud and corruption can occur. The course aims to provide participants with the tools and knowledge necessary to create a procurement fraud risk matrix that can be used to profile an organization’s procurement fraud risk.

In the first section, the course introduces the concept of procurement fraud and its many typologies. Participants will learn the definitions and characteristics of procurement fraud and how it can occur in various stages of the procurement process. The section aims to give an overview of the course’s main topics and provide a foundation for the subsequent sections.

The second section focuses on pre-contract award risk. Participants will learn about the different types of risks that can arise before a contract is awarded, including bid-rigging, bribery, and conflicts of interest. The section aims to provide an understanding of how procurement fraud can occur in the early stages of the procurement process and how to identify these risks.

The third section delves into post-contract award risk. Participants will learn about the various risks that can arise after a contract has been awarded, including invoice fraud, collusion, and contract amendments. The section aims to help participants understand how fraud and corruption can occur during the execution of a contract and how to recognize these risks.

The fourth section covers project risk and procurement fraud indicators. Participants will learn about the various indicators of procurement fraud that can be identified during project planning, execution, and completion. The section aims to provide participants with the tools and knowledge necessary to recognize procurement fraud risks and indicators.

The fifth section focuses on the creation of a procurement fraud risk matrix. Participants will learn about the various data sources that can be used to profile procurement fraud risk within an organization and how to create a procurement fraud risk matrix.

10. Fraud Management Fundamentals by Moses Malefane (Udemy)

Course Title: Fraud Management Fundamentals
Course Instructors: Moses Malefane

The Fraud Management Fundamentals course is an introductory program designed to provide individuals with the necessary knowledge and skills to pursue a career in Fraud Management. This course covers all the essential basics of Fraud Management in a concise and efficient manner, making it possible for learners to complete the program in less than an hour.

The course comprises several sections, including an introduction to Fraud Management, an explanation of what Fraud is, an exploration of the reasons why people commit fraud, and a series of fraud stories. The course also covers the topic of Telecommunication Fraud.

Overall, the Fraud Management Fundamentals course is an excellent starting point for those considering a career in Fraud Management. By completing this course, learners will be one step closer to becoming fraud experts.