Date of Defense

24-4-2025 1:00 PM

Location

Crescent Building Room D3-1049

Document Type

Dissertation Defense

Degree Name

Doctor of Business Administration (DBA)

College

CBE

Department

Management

First Advisor

Prof. Abdul Karim Khan

Keywords

Financial Fraud Vulnerability, Big Five Personality Traits, Theory of Planned Behavior, Digital Literacy, Financial Literacy, Attitude towards Financial Fraud, Perceived Behavioral Control, Subjective Norms, Risk Mitigation.

Abstract

The growing integration of digital financial services in the UAE has introduced new challenges in mitigating financial fraud, particularly in understanding individual susceptibility to such risks. This study explores the role of personality traits and shaping financial fraud vulnerability, employing the theory of planned behavior (TPB) to examine how extraversion, agreeableness, consciousness, neuroticism, and openness to experience influence this vulnerability. The study further assesses the mediating roles of subjective norms, attitude towards financial fraud, and perceived behavioral control in these relationships, as well as the moderating effects of digital and financial literacy.

Results from a cross-sectional survey of 406 UAE residents was collected and data was analyzed using structural equation modeling (SEM) to evaluate the proposed hypotheses. The results reveal that neuroticism has a significant positive effect on financial fraud vulnerability, underscoring that emotionally unstable individuals are more susceptible to becoming fraud victims. On the contrary, conscientiousness exhibited a negative correlation with fraud vulnerability, indicating that diligent and systematic individuals are less likely to be targeted. Extraversion also shows a positive relationship with fraud susceptibility, indicating that sociable, confident, and assertive individuals may be more prone to fraud given their impetuous decision-making, high expectations and ease of trust in social relationships. On the other hand, openness to experience and agreeableness were not found to impact fraud vulnerability, indicating that these factors do not directly play a significant role in susceptibility to financial fraud.

Moreover, attitude towards financial fraud were found to significantly mediate the relationship between personality traits and fraud vulnerability, while subjective norms and perceived behavioral control did not exhibit strong mediating effects. The study found no significant moderating influence of digital and financial literacy on these relationships. These findings offer important theoretical and practical insights. Theoretically, the study advances understanding of how personality traits contribute to financial fraud vulnerability. Practically, it suggests that fraud prevention strategies should focus on fostering positive attitude towards financial fraud towards risk management, alongside enhancing consumer education on personality-driven vulnerabilities. This research contributes to developing more personalized approaches to financial fraud within the UAE's digital economy.
This research aligns with the UAE objectives of financial inclusion and digitization, which are imperative in building an inclusive digital economy. This research puts forth actionable strategies that can be adopted to build customized fraud prevention strategies by addressing the risks associated with personality-driven weaknesses, protecting individuals. Moreover, the results further the UAE’s efforts to enhance financial literacy and build a resilient digital infrastructure.

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Apr 24th, 1:00 PM

EXPLORING THE ROLE OF PERSONALITY TRAITS IN PREDICTING FINANCIAL VULNERABILITY: MODERATING EFFECTS OF DIGITAL LITERACY AND FINANCIAL LITERACY WITHIN THE FRAMEWORK OF THE THEORY OF PLANNED BEHAVIOR

Crescent Building Room D3-1049

The growing integration of digital financial services in the UAE has introduced new challenges in mitigating financial fraud, particularly in understanding individual susceptibility to such risks. This study explores the role of personality traits and shaping financial fraud vulnerability, employing the theory of planned behavior (TPB) to examine how extraversion, agreeableness, consciousness, neuroticism, and openness to experience influence this vulnerability. The study further assesses the mediating roles of subjective norms, attitude towards financial fraud, and perceived behavioral control in these relationships, as well as the moderating effects of digital and financial literacy.

Results from a cross-sectional survey of 406 UAE residents was collected and data was analyzed using structural equation modeling (SEM) to evaluate the proposed hypotheses. The results reveal that neuroticism has a significant positive effect on financial fraud vulnerability, underscoring that emotionally unstable individuals are more susceptible to becoming fraud victims. On the contrary, conscientiousness exhibited a negative correlation with fraud vulnerability, indicating that diligent and systematic individuals are less likely to be targeted. Extraversion also shows a positive relationship with fraud susceptibility, indicating that sociable, confident, and assertive individuals may be more prone to fraud given their impetuous decision-making, high expectations and ease of trust in social relationships. On the other hand, openness to experience and agreeableness were not found to impact fraud vulnerability, indicating that these factors do not directly play a significant role in susceptibility to financial fraud.

Moreover, attitude towards financial fraud were found to significantly mediate the relationship between personality traits and fraud vulnerability, while subjective norms and perceived behavioral control did not exhibit strong mediating effects. The study found no significant moderating influence of digital and financial literacy on these relationships. These findings offer important theoretical and practical insights. Theoretically, the study advances understanding of how personality traits contribute to financial fraud vulnerability. Practically, it suggests that fraud prevention strategies should focus on fostering positive attitude towards financial fraud towards risk management, alongside enhancing consumer education on personality-driven vulnerabilities. This research contributes to developing more personalized approaches to financial fraud within the UAE's digital economy.
This research aligns with the UAE objectives of financial inclusion and digitization, which are imperative in building an inclusive digital economy. This research puts forth actionable strategies that can be adopted to build customized fraud prevention strategies by addressing the risks associated with personality-driven weaknesses, protecting individuals. Moreover, the results further the UAE’s efforts to enhance financial literacy and build a resilient digital infrastructure.