Globally Certified Fraud Specialist (CGFS)

This certification is awarded by the Global Association of Certified KYC Specialists (GO-AKS), a globally recognized association acknowledged in over 180 countries.

Version: 1.04 (Updated as of November 2024): Our curriculum, e-booklet, final exam, and syllabus reflect the latest standards and industry practices.

Enrolment and Access Procedure

Payment and Course Access:
To enroll, click on the “Add to Cart” option to pay the certification fee (listed fees cover all costs, including tax). Upon payment, candidates will gain access to the course materials, mock exam, and two attempts for the final exam.

Study Materials:
The course includes a downloadable e-booklet that comprehensively covers the syllabus for the Globally Certified Fraud Specialist (CGFS) exam.

Mock Exams:
Candidates receive access to mock exams to practice and prepare for the final assessment.

Final Exam Details:
After reviewing the e-booklet and completing the mock exam, candidates may attempt the final exam at any time (lifetime access). The final exam consists of multiple-choice questions (MCQs) and can be taken online at the candidate’s convenience. Upon passing, candidates will receive the certification and credential ID by email.

Scoring and Retakes:

• A passing score of 85% is required.
• No negative marks for incorrect answers; however, skipping questions will result in point deductions.
• Candidates have two initial attempts for the final exam. If additional attempts are needed, each retake incurs a fee of $19 USD.

Referral Program:
Candidates who have already enrolled can become referral partners and earn 15% for each successful referral.

Globally Certified Fraud Specialist (CGFS) Curriculum

Module 1: Introduction to Financial Fraud

• Overview of Financial Fraud
• Fraud Trends and Statistics
• Legal Framework

Module 2: Fundamentals of Financial Fraud Analysis

• Principles of Financial Fraud Detection
• Fraud Detection Tools and Technologies

Module 3: Financial Fraud Detection Techniques

• Red Flags of Financial Fraud
• Financial Statement Fraud
  • Publicly Listed Corporations
  • Rogue Traders
  • Mortgage Origination Fraud
  • Mortgage Securitization Fraud
  • Investment Scams and Ponzi Schemes
  • Phishing, Pharming, and Payment Scams

Module 4: Fraudulent Financial Mis-Selling

• General Characteristics
• Predatory Lending
• Life Insurance and Pension Schemes Mis-Selling
• Interest Rate Derivatives Mis-Selling
• Synthetic CDOs Mis-Selling

Module 5: Financial Instruments and Fraud Techniques

• Common Financial Instruments Used in Fraud
  • Stocks and Securities
  • Derivatives and Options
  • Cryptocurrencies
  • Insurance Products
  • Banking Instruments
• Fraud Techniques Using Financial Instruments
  • Pump and Dump Schemes
  • Insider Trading
  • Ponzi and Pyramid Schemes
  • Money Laundering
  • Shell Companies and Offshore Accounts

Module 6: Cyber Financial Fraud

• Cybercrime and Financial Fraud
• Cyber Fraud Detection Tools
• Case Studies in Cyber Financial Fraud

Module 11: Ethics and Professional Responsibilities in Fraud Detection

• Code of Conduct and Ethical Standards
• Professional Responsibilities in Reporting Fraud
• Balancing Compliance and Ethical Dilemmas

Lifetime Access:
Candidates have lifetime access to the study materials, which will be regularly updated with industry-relevant content to ensure the CGFS certification remains current with best practices and standards in fraud detection and compliance.