Determinants Of Financial Literacy And Investment Fraud: A Systematic Literature Review

Zainur Nadiyah Baharudin; Noor Aznaim Abd Latib; Muhamad Hasif Yahaya; Muhamad Syahrul Deen Ahmad Rosli; ‘Aeshah Mohd Ali

doi:10.64757/alqanatir.2025.3404/1200

Authors

Zainur Nadiyah Baharudin Lecturer
Noor Aznaim Abd Latib Senior Lecturer
Muhamad Hasif Yahaya Senior Lecturer
Muhamad Syahrul Deen Ahmad Rosli Senior Lecturer
‘Aeshah Mohd Ali Lecturer

DOI:

https://doi.org/10.64757/alqanatir.2025.3404/1200

Keywords:

Financial Literacy, Investment Fraud, Awareness

Abstract

Financial literacy refers to the capacity to comprehend, manage, and control one's financial conditions. The ability to make sound financial decisions will be greatly assisted by financial literacy, which revolves around financial, credit, and debt management. Every financial decision made by investors will have an impact on their saving and budgeting, readiness for unexpected life events, planning for retirement, and awareness of risk and return. Thus, the aims of this study are to conduct a systematic literature review in order to investigate and compile awareness of financial literacy and preventing investment fraud that could influence investor decisions. This study adopted Preferred Reporting Items for Systematic review and Meta-Analyses (PRISMA) to collect the relevant literature that is scoped only to the Scopus and Emerald Insight. Systematic Literature Review approach was employed and throughout the process of identification, screening, eligibility and inclusion. The study found out that individuals with strong financial literacy are likely to have a greater intention to invest and are more capable of avoiding fraud. The results are important to the financial world because society and institutions are putting more emphasis on financial literacy to make people more responsible for their own investing.

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Author Biographies

Zainur Nadiyah Baharudin, Lecturer

Academy of Contemporary Islamic Studies (ACIS), Universiti Teknologi MARA, Shah Alam.

Noor Aznaim Abd Latib, Senior Lecturer

Academy of Contemporary Islamic Studies (ACIS), Universiti Teknologi MARA, 40450 Shah Alam.

Muhamad Hasif Yahaya, Senior Lecturer

Academy of Contemporary Islamic Studies (ACIS), Universiti Teknologi MARA, 40450 Shah Alam.

Muhamad Syahrul Deen Ahmad Rosli, Senior Lecturer

Academy of Contemporary Islamic Studies (ACIS), Universiti Teknologi MARA, 40450 Shah Alam.

‘Aeshah Mohd Ali, Lecturer

Marketing Department, Faculty of Business and Management,UCSI University.

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Herispon, H. (2019). The Effect of Bank Behavior, Financial Literacy on Financial Inclusion and Debt Behavior In Household Consumption. Proceedings of the first International Conference on Social Sciences, Humanities, Economics and Law.