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Thread: Certified Fraud Examiner (CFE) and databases

  1. #1
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    Certified Fraud Examiner (CFE) and databases

    I am a self-employed Certified Fraud Examiner (CFE) and financial crimes investigator in Illinois. I am finding that in order to obtain access to certain proprietary databases, a private investigator license is required. My only interest is in tracking fraudsters and not performing all the other numerous and important tasks typically performed by a private investigator or in carrying a weapon.

    I have looked at some states’ private investigator licensure requirements and, of course, they are oriented towards people who wish to perform the typical and varied tasks of private investigators and not the comparatively narrow focus of my activities. Can anyone suggest any particular state(s) whose licensure I should pursue?

    Thanks.

    Sara

  2. #2
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    Re: Certified Fraud Examiner (CFE) and databases

    Hi Sara
    I don't have an answer to your question. But I was wondering what a CFE is? And what you had to do to be Certified.

    Thanks

  3. #3
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    Re: Certified Fraud Examiner (CFE) and databases

    Sharie:

    The CFE designation denotes proven expertise in fraud prevention, detection, deterrence and investigation. One needs accounting and fraud detection experience to earn the designation. Passing a 500 question exam is also required. For more information, please take a look at the web site of the CFE governing body, the Assocation of Certified Fraud Examiners, at http://www.acfe.com .

    Sara

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    Re: Certified Fraud Examiner (CFE) and databases

    Thank you for the information. I will have to check into this.
    Sharie

  5. #5
    James Edward Buchanan,III's Avatar
    James Edward Buchanan,III is offline Moderator: (On leave of Absence)

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    Thumbs up Re: Certified Fraud Examiner (CFE) and databases

    Sara,

    Thanks so much for sharing this most valuable information...I am going to be checking into
    this career as well.

    James,lll

  6. #6
    Donna Reagan's Avatar
    Donna Reagan is offline Administrator
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    Re: Certified Fraud Examiner (CFE) and databases

    Quote Originally Posted by Sara Bern
    I am a self-employed Certified Fraud Examiner (CFE) and financial crimes investigator in Illinois. I am finding that in order to obtain access to certain proprietary databases, a private investigator license is required.
    This can be accomplished by requesting the union to set up a corporation for you, plus several other key elements that can help qualify your corporation to be approved from the database subscriptions.

    • Set-up cost of $539.23 to 598.00* (Includes union dues, union license, incorporation license, stock certificates, office, *national toll free number, web page, corporate registered agent, agency corporation license, one-on-one legal help in the corporation owners forum, and all other Professional Management Benefits.

    • Annual costs to maintain everything drop to $179.99 a year

    Here are the items to order online:
    1. Private Investigator Union License $89.25
    2. Union Professional Management Plan $149.99
    3. Complete PI Agency Corporation Set-Up $299.99




    Note: Although the annual cost drops to $179.99 a year, your tax savings a a corporation will also offset any costs to maintain your agency as a corporation.

  7. #7
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    Re: Certified Fraud Examiner (CFE) and databases

    Donna:

    Thank you so much for the response. You're obviously an expert in these matters. Some of the database providers state that one requirement for access to their databases is a photocopy of one's state issued PI license. I'm not sure if the union card would work with those companies, do you? Perhaps you know of some database providers who would accept the union card for access? Thanks again, Donna.

    Sara

  8. #8
    Donna Reagan's Avatar
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    Re: Certified Fraud Examiner (CFE) and databases

    Quote Originally Posted by Sara Bern
    Donna:

    Thank you so much for the response. You're obviously an expert in these matters. Some of the database providers state that one requirement for access to their databases is a photocopy of one's state issued PI license. I'm not sure if the union card would work with those companies, do you? Perhaps you know of some database providers who would accept the union card for access? Thanks again, Donna.

    Sara
    If you already have an individual state PI License or a PI Union License, than the approval is up to the database provider to accept or decline the license provided. Most union members do not advertise which database providers they use.

    But if you do not have either, you do not have a chance at all to apply for clearance because you have nothing to provide them.

    You application will be much stronger if you apply as an PI agency corporation where you have additionally received a state issued corporation license and a PI Union License. Good first impressions going into an application make the approval much easier than going into the application piece by piece.

    More importantly. regardless of your application approval, is the matter of incorporating your business as a professional entity. That alone is something which will make you money and increase your vitality in the eyes of your clients.

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