This study investigated occupational fraud, risk management culture, and organizational performance within the Nigerian telecom sector, focusing on MTN Nigeria Communications Limited. Employing Triangle Theory and Dark Triad Theory as theoretical frameworks, the research aimed to assess the interplay between these factors. A mixed research design incorporating qualitative and quantitative approaches facilitated comprehensive data collection, interpretation, and analysis. The target population comprised 220 employees of MTN Nigeria in the Federal Capital Territory, Abuja. Quantitative analysis, based on a sample size of 141, revealed a high risk of occupational fraud within the industry, particularly in procurement and financial record falsification. Despite this, the study found a lackluster fraud response, with over half of the respondents indicating a lack of fraud risk assessment within the past year. Qualitative analysis provided deeper insights, highlighting demographic trends in occupational fraud propensity, with middle managers in accounting, operations, sales, and procurement services identified as the most likely perpetrators. Trust placed in employees, especially middle managers, was exploited for fraudulent activities, posing significant financial and reputational risks to MTN Nigeria. Recommendations included intensified staff training on fraud-related issues and increased investment in fraud prevention, detection, and response mechanisms to safeguard the company’s interests.