Certified Bank Forensic Accountant (CBFA) is a banker or a banking professional or a banking consultant who has undergone training to become an expert in the banking frauds domain, forensic auditing related to banking sector, litigation support and investigative accounting. This program is one of the foremost certification focusing on the frauds in the banking and financial institutions domain.
Certified Bank Forensic Accountant (CBFA) is a designation awarded by Indiaforensic Center of Studies and moderated by the Forensic Accounting Research Foundation. The Forensic Accounting Research Foundation is a member-based Indian organisation dedicated to providing forensic accounting and forensic auditing education and training with presence in more than 7 countries including Nigeria, Oman, Qatar, UAE, Uganda and others.
Indiaforensic Center of Studies offers three certifications viz.
- Certified Anti-Moneylaundering Expert
- Certified Bank Forensic Accounting
- Certified Forensic Accounting Professional
Generally, applicants for CBFA certification have a minimum of a bachelor's degree and at least three years of experience in the banking domain is essential. Additionally, Indian Banking Regulator Reserve Bank of India, has issued a circular on September 16, 2009, which requires banking companies to impart the training on forensic auditing. Certified Bank forensic Accounting program is exactly in line with the requirements of RBI circular. Employees of Risk, Intelligence, Compliance, Vigilance and Fraud Control can directly apply for examinations.
In order to be Certified as a Bank Forensic Accountant one must meet the following requirements:
- Be at least a graduate from the Recognised University
- Have professional experience of at least three years
- Pass the CBFA examination conducted by Indiaforensic Center of Studies with at least 75% marks
- Be of high moral character
Indiaforensic Center of Studies offers the modular certifications to the bankers carved out of Certified Bank Forensic Accountant course. Some of these modular certifications are:
- Credit card frauds certification,
- Laws pertaining to banking frauds certification,
- Financial statement frauds certifications.
Examinations offered by Indiaforensic Center of Studies and Moderated under the bylaws of Forensic Accounting Research Foundation which consists of 200 multiple option questions and single paper on banking frauds and money laundering. The exams are computer based and the self assessment test needs to be completed before the final examination needs to be completed.
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