Ethical values and employee fraud in Ghanaian banking sector during COVID-19

Christine Avortri, Rebecca Attah and Emmanuel Appah

African Journal of Accounting, Auditing and Finance, 2025, vol. 9, issue 1, 79-98

Abstract: We examined the types and motives of employee fraud and ethical values in Ghana during COVID-19 by employing the fraud diamond and pentagon fraud theories for the analysis. We collected data from 108 employees across 23 banks using questionnaires and analysed them using descriptive statistics and structural equation model (SEM). The findings reveal financial report fraud as the main fraud type, with opportunity and rationalisation as primary motives. The study also finds that strong ethical values in employees reduce the likelihood of fraud, even when presented with opportunities and under pressure, emphasising a vital link between ethics and employee fraud. The authors found no relationship between employee fraud and pressure during COVID-19.

Keywords: fraud diamond theory; pentagon fraud theory; employee fraud; banking sector; ethical values; Ghana; COVID-19. (search for similar items in EconPapers)
Date: 2025
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