Carlow University Master of Science in Fraud and Forensics: Our 2027 Review

Carlow's online Master of Science in Fraud and Forensics reaches past accounting into white-collar crime, money laundering, cybercrime and the psychology behind financial wrongdoing. It's a one-year, 100% online cohort program, and you'll have a dedicated faculty adviser.

If you pick the optional cyber track, you'll end with a capstone event at the National Cyber-Forensics and Training Alliance in Pittsburgh. The school says its alumni are consistently among the university's highest earning graduates.

Carlow University, a private nonprofit university in Pittsburgh, Pennsylvania, delivers this Master of Science in Fraud and Forensics in an accelerated, 100% online format. The school calls it one of the first of its kind in the nation. You'll build accounting and auditing skills, plus the expertise to evaluate risk, investigate fraud and apply data-driven insights.

Your 30 credit hours cover white-collar crime, fraud prevention, cybercrime and the human motivations behind financial wrongdoing. You'll move through the program in a cohort, which the school says fosters a collaborative opportunity with fellow students and faculty. A dedicated program-level faculty adviser guides you along the way.

Carlow has an educational partnership with the ACFE and a memorandum of understanding with the NCFTA. The school says you'll be prepared to sit for the CFE exam. It also says the degree is qualified for the 150 hours you need to take the Certified Public Accountant (CPA) exam.

The careers page names several paths you can take: auditor, compliance officer, cyber financial analyst, financial fraud investigator, money laundering investigator and risk management officer, in business, law enforcement, government and healthcare. Carlow provides career advising sessions, career programming, job search support and employer engagement. An alumni network of more than 200 professionals is ready to connect with you.

Where this degree can lead: Forensic Accounting Jobs, Certified Fraud Examiner Certification.

• Career changers and professionals who want a one-year, fully online master's with no GRE or Graduate Management Admission Test (GMAT) required.
• Readers drawn to the psychology and criminology of financial crime, since a required course studies financial and cyber crime through both lenses.
• Future cyber financial analysts who want the optional Cyber Threat Research and Analytics track, which adds two courses.
• Students who value a cohort, where you complete the program alongside fellow students and faculty.
• Aspiring CFE candidates, since the school says you will be prepared to sit for the exam.

You'll start with the ideas behind the crime. White Collar Crime defines fraud, the fraud triangle, the principal types of fraud, and the causes and theories of crime causation.

Elements of Money Laundering is a three-credit core course. In Fraud Prevention and Ethics, you'll study fraudulent behavior, ethical processes, prevention programs and how ethical corporate cultures reduce criminal behavior. Psychological and Criminological Aspects of Financial and Cyber Crimes shows you both through the dual lenses of psychology and criminology.

The legal course is Legal Elements of Fraud. You'll cover the history of criminal rules of evidence, constitutional protections and select Federal Rules of Evidence, so you learn how to obtain relevant, reliable and competent evidence for use at trial.

The numbers courses are hands-on. In Financial Statement Examination, you'll work on detecting financial statement fraud, identifying fraudulent transactions, exploring types of fraud schemes, calculating economic damages and lifestyle analysis. Audit Procedures for Detecting Fraud gives you fraud audit procedures, document analysis and internal controls.

Cybercrime gives you a theoretical and hands-on look at cybercrime. Comprehensive Fraud Investigation is a four-credit course, and it walks you through gathering and documenting evidence, investigation techniques, interviews, report writing and working with attorneys. You'll also choose an elective, Advanced Criminological Theory or Systems of Criminal Justice.

If you add the optional Cyber Threat Research and Analytics track, you'll take Cyber Analysis, on encryption, virtual currency and the dark web. You'll also take Advanced Cyber Analysis, which includes a capstone event at the National Cyber-Forensics and Training Alliance in Pittsburgh.

Standout Features

• Alumni consistently rank among the university's highest earning graduates
• Anti-fraud educational partnership with the ACFE and the National Cyber Forensics Training Alliance (NCFTA)
• Cohort model with a dedicated program-level faculty adviser
• Optional Cyber Threat Research and Analytics track for investigating digital financial threats

Tuition is $800 per credit hour, and the program page lists an estimated total of $24,000 for the 30 credit hours, before fees. If you choose the optional Cyber Threat Research and Analytics track, you'll add six credit hours.

You can transfer up to six credit hours in. Carlow describes itself as a Yellow Ribbon and Military Friendly college, which helps servicemembers and veterans plan their benefits. And Carlow's admissions team can talk you through payment plans and financial aid.

30 credits at $800 a credit comes to $24,000 in tuition, before fees.

The program runs in an accelerated, 100% online format and takes 1 year, built around a cohort model. You'll work with a dedicated program-level faculty adviser, and the school describes a close-knit, supportive community of instructors and learners. You can also use a virtual or in-person residency through Carlow's agreement with the National Cyber Forensics Training Alliance (NCFTA).

To apply, you'll send an online application, a bachelor's degree from an accredited institution, official transcripts, a personal statement and a resume. The school prefers a minimum cumulative grade point average of 3.0. It says its faculty are leaders in the field who bring real-world experience, and that they've got years of experience in the criminal justice system.

The full rubric is on the methodology page.

• Carlow says alumni of the program are consistently among the university's highest earning graduates, a point the school makes on its program page.

  Source: Carlow University website

• The school describes its faculty as deeply committed to student growth, offering personal support and professional insight.

  Source: Carlow University website

• How does the cohort schedule work, and how many courses do we take at a time?
• What does the virtual or in-person residency with the National Cyber Forensics Training Alliance involve?
• Who is my faculty adviser, and how often do we meet?
• How does the optional Cyber Threat Research and Analytics track fit into the one-year timeline?
• Which elective, Advanced Criminological Theory or Systems of Criminal Justice, suits my goals?
• How do the courses line up with the Certified Fraud Examiner exam and the 150 hours for the CPA exam?
• Which military benefits apply through the Yellow Ribbon program?

• Best Forensic Accounting Programs Rank 12 of 27, master's
• Best Master's Programs Rank 12 of 27, master's
• Best Online Programs Rank 11 of 20, master's
• Fraud Examination Programs Rank 4 of 10, master's
• CFE Exam Prep Programs Rank 8 of 13, master's
• Cheapest Programs Rank 12 of 15, master's
• Accelerated Programs Rank 9 of 13, master's
• Best Programs in Pennsylvania Rank 2 of 5, master's

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