The banking sector is one of the highest employment generators in the Indian services sector. Banking certification is crucial for getting employment in banks. Banking professionals have diverse roles and responsibilities based on their designations. Many in the credit teams do financial planning or financial modeling. Few are financial analysts.
But there are some roles for risk assessment. They perform due diligence on borrowers and identify the red flags of fraud in the borrower accounts. They are Certified Bank Forensic Accountants.
Who is CBFA?
A Certified Bank Forensic Accountant (CBFA) is an employee of a banking or non-banking finance company, mutual fund, or fintech company professional, or consultant who has undergone training to become an expert in the domain of forensic accounting in the banking sector. They are also experts in the subjects like forensic auditing, litigation support, and investigative accounting.
Typically Certified Bank Forensic Accountants work with the Fraud Control Unit or Risk Containment Units of the banks. They have a background of working as loan officers or tellers in banks. Certified Bank Forensic Accountant is becoming a preferred banking certification because of its selection of topics. It is a powerful online training with a certificate.
It is important to note that, CBFA is one of the foremost certification courses in forensic accounting, curated by Indiaforensic and presented by Riskpro Learning, and focuses on frauds in banking and financial institutions.
With more and more banking frauds happening and the news talking a lot about frauds in Punjab National Bank, CBFA certification is becoming really important. Public Sector banks in India are facing a lot of trouble because many loans they gave out aren't being paid back. A lot of these loans turned bad because they didn't pay attention to signs that the borrowers were in trouble.
In 2006, Indiaforensic began offering this course as one of its first options. The Reserve Bank of India frequently gives advice on how to report fraud. These guidance documents from RBI are not included in the study material or syllabus, but bankers need to understand them to report incidents.
Certified Bank Forensic Accountant
CBFA is a designation curated by the Indiaforensic Center of Studies and presented by Riskpro Learning with a presence in more than 7 countries including Nigeria, Oman, Qatar, UAE, Uganda, and others.
Certified Bank Forensic Accountant is a unique certification that offers several benefits to aspirants. It not only restricts itself to loan fraud but also discusses technology scams. It goes on to discuss some of the trending schemes of frauds like sim swap frauds, vishing, etc.
Once you pass the exam, you can put Certified Bank Forensic Accountant (CBFA) after your name. The exam has multiple-choice questions. Also, this course is thorough and covers everything from looking into fraud to understanding the market.
Features of the Banking Certification Course
- Interactive and digital learning experience course
- Assessed by an online exam comprising 100 multiple choice questions with a pass mark of 75%.
- Examinations can be taken at any time. Results will be available immediately. Learners also have the option to re-take the exams three times on un-successful attempts;
- The module is priced at Rs. 25000, and it covers all your fees except for the re-examination fee. If you need to retake the exam, the fee for each attempt is Rs. 5000.
- Every student can watch videos to learn and join live online classes with the instructor.
Syllabus for CBFA
The CBFA syllabus is very thorough. It includes many real-life examples of bank frauds. Also, we keep the curriculum up-to-date. The Live training program goes on for 6 weeks and covers 6 modules and 2 live case study sessions. Here are some topics you'll learn about in the Certified Bank Forensic Accountant Program:
- Introduction to Forensic Accounting
- Fraud and Failure (BFSI Sector)
- Investigative process
- Advanced Investigative Techniques
- Report Writing Skills
- Litigation Framework
The Study Guide for CBFA covers a lot of different topics. When you finish the course, you'll really understand the words used for banking fraud and also learn how to gather important information about the market.
Technology has changed things, even in banking. The bad guys who do fraud are getting better at it, and our certification course is also getting smarter. But we're keeping up with their tricks by offering video lessons. These videos will help you learn about the new ways fraud happens. The Certified eCommerce Fraud Specialist course is designed to align with the changing trends. This 40 Minutes training course covers topics on credit card fraud, wire transfer fraud, e-commerce fraud, etc.
Live Training Sessions
The Certified Bank Forensic Accountant program offers 30 hours of live training sessions. Experienced professionals lead these sessions. The live training session is for 2 months.
First, you will go through self-paced learning and use the learning resources they give you. Then, you will take the exam. To pass the exam, you need to know basic ideas like financial analysis, investment banking, account management, retail banking, private banking, and wealth management.
Nikhil Parulkar leads the training sessions for the CBFA program. He has worked in banking and consulting for 18 years. He's an expert in forensics, fraud investigation, and training. Our trainer will personally guide you throughout the program.
Banking Certification to add value to your profile
Upon completion of the program, the aspirants gain knowledge of forensic accounting, fraud investigation, and also the perspective of the BFSI Sector. One will be able to undertake forensic analysis and the assessment of risk factors. It also involves the combination of analytical skills like investigative measures, investigative processes, and market intelligence gathering.
Investigating involves using certain methods and steps. The last two sections called Report Writing Skills and Litigation Framework will teach you the practical skills to finish Forensic Audits. Once you finish, you'll have what you need to do forensic accounting work. You'll also learn how to write investigation reports and do due diligence.
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