Date

12-7-2023

Department

School of Behavioral Sciences

Degree

Doctor of Philosophy in Psychology (PhD)

Chair

Laura Beiler

Keywords

cyber-enabled fraud, crypto assets, cybercrime

Disciplines

Psychology

Abstract

The propensity to exploit others for one’s own benefit is continuously exhibited by bad actors. Unfortunately, this sentiment holds true in emerging asset classes, such as crypto assets. As a result, it is surprising that current research on fraud susceptibility is approached in a binary way. Researchers examine either what makes an individual predisposed to victimization by bad actors or what factors influence one’s propensity to perpetrate fraudulent schemes. This study bridged this substantial gap in current research by investigating if specific psychological factors influence when, or if, an individual shifts between these two outcomes. The psychological factors incorporated into this analysis included self-esteem, financial egocentrism, and fraud susceptibility. These variables were measured through self-reported assessments. Secondary analysis additionally explored the efficacy of the threat of punishment as a deterrent for the perpetration of cyber-enabled fraud schemes. The evidence indicated that higher levels of financial egocentrism were linked to higher fraud susceptibility. The study also identified that the threat of punishment did not have a statistically significant impact on the decision to perpetrate a cyber-enabled fraud scheme involving crypto assets.

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