Data Analytics (Foundation Course)
In fraud prevention and investigation, your ability to transform raw data into compelling evidence can make the difference between detecting fraudulent activity and missing it entirely.
This course is ideal for those wishing to start out in a career in data analysis, or whose role requires understanding and investigating data. Examples might be in detecting changes in customer registration patterns that indicate fraud, testing if fraud detection rules are working properly, or identifying fraudulent expense claims.
This course requires no previous knowledge of data analysis or computing – it will take you from the very first steps, through to conducting professional data analysis in real world scenarios.
By the end of the course, you will have gained practical experience to confidently analyse data and present your findings with confidence.
Cifas Members receive a 13% discount.
Module details
Who should attend this Counter-Fraud training
This CIFAS Data Analytics Foundation course is designed for anyone who needs to investigate or work with data:
- Fraud analysts beginning their careers
- Counter-fraud investigators requiring data analysis capabilities
- Compliance officers responsible for setting up fraud detection programmes
- Internal auditors conducting fraud risk assessments
- KYC and AML professionals analysing customer behaviour patterns or setting up fraud detection rule sets
- Risk management teams identifying fraud indicators
- Anyone with responsibilities requiring a foundational understanding of data analysis
No previous data analysis or computing experience is necessary - the course will build your skills from the ground up.
What You'll Learn:
Through real-world scenarios, this hands-on course takes you from complete beginner to confident data analyst, capable of conducting professional fraud investigations and presenting findings to key stakeholders.
Foundation
Establish core competencies in investigative data analysis and learn how to use Excel professionally.
- You will gain a strong foundation of using Microsoft Excel for investigative work – no prior knowledge is required, and the course will take you from the very basics to competency.
- You will understand how to prepare and clean your data for analysis.
- You will learn how to conduct sampling in a professional manner, a critical part of dealing with large data se
Analysis
Develop sophisticated analytical techniques to uncover fraud patterns invisible to manual review.
- You will learn how to conduct broad, high-level analysis to catch inconsistencies that can signal fraud, such as non-random patterns and duplication in data. This will allow you to identify wider patterns of fraud.
- You will gain an understanding of specialised fraud detection methodologies such as Benford Analysis, the Luhn Algorithm and Relative Size Factoring.
- You will drill down into the data using outlier analysis to detect anomalies in the data which can point to fraud. This type of analysis can help you identify anomalies and inconsistences in scenarios where human intuition is not enough.
Reporting
Transform analytical findings into compelling evidence and actionable intelligence.
- You will learn how to record your methodologies and findings in an effective, replicable manner.
- Develop methodologies of charting and displaying your data for use in counter-fraud investigations
- You will understand how to present your analysis in a professional report for wider dissemination to key stakeholders and investigative staff who may not have a strong analytical background.
Course Format
This foundation course is a hands-on, practical course with real-world fraud scenarios. You will work through practical exercises, analyse actual data patterns seen in fraud investigations, and develop techniques immediately applicable to your daily responsibilities.
The training is delivered via an online learning platform in which students can work at their own pace with close support and guidance from our trainers.
No previous computing or data analysis experience is required for the course. The training ensures that every participant achieves competency regardless of starting technical knowledge.
Please note, you will need to have either Microsoft Excel or similar spreadsheet software installed to complete this training.
Certification
Upon successful completion, you will be issued a Certificate of Completion.