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The purpose of this study is to extend the Fraud Diamond Theory to celebrity Special Purpose Acquisition Companies (SPACs) and investigate their post-Initial Public Offering (IPO) stock market performance.

After obtaining a sample of celebrity SPACs from the Spacresearch.com database, fraud risk characteristics were obtained from Lexis Nexus searches. Buy and hold abnormal returns were calculated for celebrity SPACs versus a small-cap equity benchmark for time intervals after IPO, and multiple regression analysis was performed to examine the relationship between fraud risk features and post-IPO returns.

Celebrity SPACs exhibit Fraud Diamond characteristics and significantly underperform a small-cap stock portfolio on a risk-adjusted basis after IPO.

This study only examines celebrity SPACs that conducted IPOs on the NYSE and NASDAQ/AMEX and does not include those that are traded on the Over the Counter Bulletin Board (OTCBB).

Celebrity endorsement of SPAC vehicles attracts investors who may not be properly informed regarding the risk characteristics of SPACs. Accordingly, investors should be warned that celebrity SPACs underperform a small-cap equity portfolio and exhibit significant elements of fraud risk.

The use of celebrity endorsement as a marketing device to attract investment in SPACs has regulatory implications.

To the best of the authors’ knowledge, this paper is the first to examine the fraud risk characteristics and post-IPO performance of celebrity SPACs.

This study aims to investigate the factors that influence asset misappropriation fraud among police officers in the Internal Security and Public Order (Malay: Keselamatan Dalam Negeri dan Ketenteraman Awam [KDNKA]) Department, Royal Malaysian Police (RMP).

Primary data were collected from a questionnaire-based survey and the data were analysed using descriptive analysis, correlation analysis and multiregression.

The element of pressure was found to have a negative relationship with asset misappropriation fraud. This result shows the uniqueness of the KDNKA Department in the RMP. The other three elements are found to have a significant positive relationship with asset misappropriation fraud.

This study’s findings can aid academicians in gaining a better understanding of the literature surrounding fraud diamond theory and aid the policymakers in recognizing the signs and possibilities of asset misappropriation fraud in public agencies.

To the best of the authors’ knowledge, this is the first study that uses the KDNKA Department which is the second largest department in RMP as a population in fraud study.

This study departed from the aim to progress Malaysia as a high-income nation in 2025 via decent work and economic growth (Sustainable Development Goal 8). Thus, this study aims to examine the effects of demographic, experience and organisational factors on the ethical integrity of local enforcement officers from self-proclaim and colleague perception perspectives.

The data of this study was collected from Pusat Latihan Penguatkuasa Selangor (PULAPES), a training centre for local enforcement officers in Selangor. Based on a survey in 2019, this study used primary data based on a scenario-based questionnaire survey with a total sample of 535 respondents.

From a self-proclaim perspective, the results show that secondment and training factors have a positive relationship with the ethical integrity of local enforcement officers. From a colleague perception perspective, the results indicate that the secondment factor has a positive relationship with ethical integrity. In contrast, the officer rank factor has a negative relationship with the ethical integrity of local enforcement officers.

This research seeks to develop new theories or refine existing ones to explain how diverse circumstances affect law enforcement ethics. Learning people’s habits through observation and consequences like rewards or punishments impact behaviour recurrence are suggested. Law enforcement ethics can be examined by examining how peers, supervisors and organisational culture shape officers’ ethics.

The finding of this study could serve to evaluate training programmes or rewards and punishments for ethical behaviour including how accountability and community involvement aid to promote law enforcement ethics.

The survey results of this study are based on local enforcement officers’ ethics that serve to aid in illuminating the elements which affect ethical behaviour among law enforcement personnel and identify the tactics for fostering ethical behaviour.

No country is free from financial crime issues. Therefore, this paper aims to discover how to control financial crime from the perspective of national culture.

This study conducted a bibliometric approach and systematic literature review analysis of 47 publications in the Scopus database.

Bibliometric and content analyses show that national culture is more often associated with tax evasion, money laundering and corruption. The role of national culture is less investigated currently in the schemes of financial statement crime, workplace fraud and cybercrime. Overall, the study concludes financial crime can be prevented by developing a culture that supports anti-fraud measures. These include individualized country profiles, feminism, low power distance, tolerance for uncertainty, short-term orientation and restraint.

This research provides clear knowledge of the role of the six dimensions of national culture in fighting financial crime. Finally, this study is also valuable for decision-making in designing more effective financial crime prevention programs.

This study aims to gain a new perspective on auditing by measuring investors’ fraud perception and to reveal the necessity of increasing individuals’ fraud perception by determining the effect of fraud perception on the intention to invest in crypto assets from the investor’s perspective.

As part of this quantitative research, a survey was conducted on individuals residing in Türkiye and aged 18 years and above through a convenience sampling method. A total of 446 participants were included in the study. The data collected was analyzed using the partial least squares-variance based structural equation modeling (PLS-SEM) method using the SmartPLS program.

Fraud perception causes individuals to be more risk-averse and reduces their intention to invest in crypto assets. At the same time, it has been observed that risk-averse individuals have lower intention to invest in crypto assets. According to the results of the mediating effect analysis, risk aversion behavior partially mediates between the fraud perception and the intention to invest in crypto assets. Among the emotions, only fear increases risk aversion behavior. Among the personality traits, extroversion and openness to experience personality traits reduce risk aversion behavior, whereas neuroticism personality traits increase the intention to invest in crypto assets.

In an environment where traditional auditing activities are insufficient, increasing investors’ perceptions of fraud can reduce fraud-related losses. In this context, to the best of the authors’ knowledge, the present study might be among the first to investigate the impact of individuals’ perceptions of fraud on their investment intentions in crypto assets.

Financial fraud is a severe corporate fraud committed for achieving various objectives, like attaining financial targets, lowering debt and providing good signals to the market. Such financial fraud deceives stakeholders and results in substantial financial losses. This study aims to detect financial fraud using the modified Beneish M-Score, the most appropriate forensic tool for fraud detection. Furthermore, the current study also examines the influential role of the fraud triangle’s elements (pressure, opportunity and rationalization) on financial fraud in nonfinancial firms during 2018–2021, offering insight for understanding and mitigating fraudulent activities in the corporate world.

Financial fraud is treated as a dependent variable measured through a modified Beneish M-score, while the fraud triangle elements (pressure, opportunity and rationalization) are measured through six proxies, which are financial stability, leverage, financial target, nature of the industry, the effectiveness of supervision and auditor changes.

The study's finding proclaimed that fraud triangle elements result in financial fraud. Findings unveil that all elements (pressure, opportunity and rationalization) of the fraud triangle significantly influence financial fraud. The study confirms that these elements must be considered to protect investors and provide a safe environment for investment.

Rare literature found addressing the detection of financial fraud and its nexus with the fraud triangle specifically in Pakistan where deficient governance is notably prevalent. This study attempts to fill such a gap and contribute to knowledge.

The purpose of this study is to examine the risks of the metaverse ecosystem. This study provides an overview of the metaverse and its evolution and discusses the various fraud risks it poses for organizations (including boards of directors, forensic accountants, auditors and accountants). Given the advantages of the metaverse and the growing interest it is attracting from organizations, this paper sheds light on the importance of mitigating its risks.

Based on a systematic review of the literature on the metaverse and analysis of the fraud triangle, this study examines the different fraud risks it poses. More specifically, this study analyzes 21 articles on the metaverse published between 2021 and 2022 and attempts to answer the following research questions: What are the risks inherent in the metaverse? What are the fraud risks associated with it? What are the opportunities and pressures it brings? What is the rationalization underlying its use? This study conducts the analysis on two levels, that of the individual (user) and that of the organization. This paper summarizes the findings of publications on the metaverse in 2021 and 2022 to discover its various definitions and the opportunities and risks it represents.

This paper offers an insightful discussion of the advantages and risks the metaverse can bring. Because this analysis shows that any organization could be vulnerable to metaverse risks, this study provides organizations with strategies to deter, detect and prevent fraud and reputational risks. Regulatory bodies, financial authorities, board of directors and fraud investigators should all consider these risks before investing in the metaverse.

This paper adds new insights to the scarce research on the metaverse and cybersecurity by exploring the opportunities and risks it presents. It has several implications for organizations, boards of directors, management and regulatory authorities.

This study reviews and discusses the accounting literature that analyzes the role of auditors and enforcers in the context of fraud.

This literature review includes both qualitative and quantitative studies, based on the idea that the findings from different research paradigms can shed light on the complex interactions between different financial reporting controls. The authors use a mixed-methods research synthesis and select 64 accounting journal articles to analyze the main proxies for fraud, the stages of the fraud process under investigation and the roles played by auditors and enforcers.

The study highlights heterogeneity with respect to the terms and concepts used to capture the fraud phenomenon, a fragmentation in terms of the measures used in quantitative studies and a low level of detail in the fraud analysis. The review also shows a limited number of case studies and a lack of focus on the interaction and interplay between enforcers and auditors.

This study outlines directions for future accounting research on fraud.

The analysis underscores the need for the academic community, policymakers and practitioners to work together to prevent the destructive economic and social consequences of fraud in an increasingly complex and interconnected environment.

This study differs from previous literature reviews that focus on a single monitoring mechanism or deal with fraud in a broadly manner by discussing how the accounting literature addresses the roles and the complex interplay between enforcers and auditors in the context of accounting fraud.

This study aims to examine the effects of religiosity, ethical leadership and local wisdom on the relationship between fraud risk management and asset misappropriation in Indonesia.

Data were collected using a set of questionnaire surveys administered to the head office, local government internal auditors (inspectorate) and local government employees in Indonesia. Sample selection used purposive techniques and obtained 151 respondents who became research data. The dependent variable was asset misappropriation. The independent variable was fraud risk management. The moderating variables for this study were religiosity, leader ethics and local wisdom. The analysis technique applied the structural equation model-partial least square (SEM-PLS).

Fraud risk management has a significant negative effect on asset misappropriation. In addition, this study finds evidence that religiosity, ethical leadership and local wisdom increase fraud risk management against asset misappropriation.

This study proposes an integrative model that enables local governments to understand fraud risk management. By integrating religiosity, ethical leadership and local wisdom, managers can design strategies to prevent asset misappropriation.

This research has the advantage of proposing an integrative model for mitigating asset misappropriation. Research on asset misappropriation is limited. Therefore, this study provides insights into fraud risk management, particularly in Indonesia’s local governments. In addition, this study adds ethical aspects such as religiosity, leadership and local wisdom to complement the weaknesses of fraud risk management and reduce the potential for asset misappropriation.

The purpose of this paper is to examine failures in internal and external controls associated with sovereign wealth funds (SWFs), using three caselets to illustrate the fraud triangle theory factors.

This study uses a qualitative research approach. Caselets are used to illustrate the fraud triangle factors associated with SWFs.

Ideally, SWFs would be characterized by opacity and the strategic flexibility to advance political goals, but this operational agility facilitates an environment ripe for fraud, in large part because there is little transparency with regard to their regulatory structure. Elements of the fraud triangle inherent in the structure of SWFs contribute to the fraud found in the three case examples.

The authors use three SWF fraud cases rather than statistical sampling of all SWFs, which limits the generalizability of the findings. Future research should explore additional recommendations for the evaluation of SWF governance.

The overlap between public sector governance and SWF governance creates an environment amenable to fraud, and as a result, fraud has occurred in several SWFs. Governance recommendations should take into account the lessons learned from previous SWF fraud cases.

Ideally, SWFs would be characterized by opacity and the strategic flexibility to advance political goals, but this operational agility may also facilitate an environment ripe for fraud, in large part because there is little transparency with regard to their regulatory structure.

To the best of the authors’ knowledge, this paper is the first to identify the fraud triangle risk factors associated with sovereign wealth funds using SWF fraud caselets.