Police Financial Investigator

The Job and What's Involved

Financial investigation is used as a problem-solving technique in all areas of police work, from burglary to murder and even missing person cases. A number of serious crimes, for example, have recently been solved by tracking criminals' use of cash-point machines.

Police financial investigators are usually police officers, although more police forces are beginning to employ civilians in this role.

Police financial investigators work to:

- Carry out complex financial investigations
- Recover assets acquired through criminal activity
- Disrupt criminal networks and markets
- Deter people from carrying out crime
- Improve crime detection rates
- Help fight against money laundering

The work includes:

  • Regular meetings with local investigating teams
  • Using specialist databases and computer software
  • Preparing paperwork in order to confiscate money or goods
  • Obtaining information from financial institutions
  • Preparing statements and collating information on money seized during operations
  • Researching known criminals

Investigators may sometimes attend court to give evidence or obtain permission to access information, such as bank account details. They also interview suspects and search premises for financial information.

Normal working hours are usually 8.00am to 4.00pm, but these can vary depending on the police force. Investigators have to be flexible and prepared to work occasional late nights and weekends, in order to carry out searches and interviews.

The work is mainly office-based, usually in a police station or headquarters where investigators can liaise with police colleagues. Financial investigators also attend court, visit banks and other financial institutions and search premises and vehicles. Investigations may involve overseas travel.

Financial investigators who are serving police officers may wear uniforms or plain clothes. Civilian investigators working with the police do not wear uniform.

The starting salary for a police financial investigator may be around £22,000. An experienced investigator may earn up to £28,000 a year.

Getting Started with this Career Choice

Police financial investigators are employed by police forces across the UK, all of which have dedicated financial investigation units.

There are more than 3,000 investigators employed in the police service and other agencies such as:

  • The Serious Organised Crime Agency (SOCA).
  • HM Revenue and Customs.
  • The Serious Fraud Office (SFO).
  • The Department for Work and Pensions, working for the Fraud Investigation Service on benefits fraud.
  • The Department for Business, Innovation and Skills, working in the Companies Investigation Branch.
  • Other organisations, including the Environment Agency, local authority trading standards departments, the Charity Commission, the Gang Masters' Association and the Gambling Commission.

There are opportunities throughout the UK, and the sector is expanding as the need for financial investigators continues to grow.

Vacancies are advertised by local police forces, through the Civil Service website and, occasionally, directly by individual agencies.

Education and Training

The direct entry route to become a police financial investigator is to join the police service as a constable and complete the normal two-year training, before specialising.

There are no set educational requirements to enter the police service. Young people can apply at the age of 18. Some experience is a real advantage, preferably involving working with people in some capacity. The selection procedure includes medical, eyesight and fitness tests, as well as tests of literacy and numeracy. References and security checks are carried out, although someone who has a conviction for a minor criminal or driving offence will not necessarily be rejected.

The Diploma in public services may be relevant for this job.

For more general information about becoming a police officer, see our job guide - Police Officer.

Civilian financial investigators typically have a degree, and it is possible to enter the career straight from university. Employers look for excellent research skills and an analytical mind rather than a specific degree subject.

For a degree course, students need at least two A levels and five GCSE's (A*-C), including English and maths, or equivalent qualifications. Entry requirements may vary, so candidates should check with individual colleges or universities. Those without the usual entry qualifications may take an Access course.

People with relevant qualifications and experience in civilian roles, for instance in the financial services industry, may be able to enter this type of work as civilian financial investigators.

A Few More Exams You Might Need

New police officers are trained through the Initial Police Learning and Development Programme. Training takes around two years and involves a combination of classroom-based study and uniformed experience working in the community. During this period trainee officers work towards NVQ's in policing at levels 3 and 4. Following their initial training as police officers, they can they take further specialist training to become police financial investigators.

Training and accreditation of financial investigators employed by the police and other recognised agencies is the responsibility of the National Policing Improvement Agency (NPIA). The agency offers a range of training courses covering:

- Financial intelligence
- Financial investigation
- Confiscation
- Proceeds of crime management
- Cash seizure
- Internet research skills for financial investigators

While studying, trainee investigators use dedicated online learning resources.

The training programme provides opportunities to achieve a BTEC Professional Certificate and Diploma in financial investigation.

After initial training, continuing professional development (CPD) helps investigators keep up to date with new methods and practices.

Some investigators may go on to take a postgraduate qualification, such as the two-year part-time Masters degree in financial investigation and financial crime offered by Teesside University Business School.

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Skills and Personal Qualities Needed

A police financial investigator should:

  • Be able to interpret accounts and make calculations.
  • Have good listening and questioning skills.
  • Understand, or be willing to learn about, banking and accounting procedures.
  • Have an analytical mind.
  • Be able to present information in a clear, logical way.
  • Possess good IT skills.
  • Be inquisitive.
  • Be decisive.
  • Work well alone and in a team.
  • Show initiative and independence.Have problem-solving skills.
  • Be tactful and polite.
  • Have personal integrity.
  • Be able to work accurately and pay close attention to detail.

Your Long Term Prospects

Financial investigators, whether police officers or civilians, may progress to more senior roles, dealing with more complex cases or areas of operation.

A police officer may progress to a more senior rank, such as inspector.

Get Further Information

National Police Recruitment Team
Website: www.policecouldyou.co.uk

Serious Fraud Office (SFO), Elm House,
10-16 Elm Street, London WC1X 0BJ
Tel: 020 7239 7272
Website: www.sfo.gov.uk

Serious Organised Crime Agency (SOCA),
PO Box 8000, London SE11 5EN
Tel: 020 7238 8282
Website: www.soca.gov.uk

Skills for Justice, Centre Court,
Atlas Way, Sheffield S4 7QQ
Tel: 0114 261 1499
Website: www.skillsforjustice.com

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