Why do voters assume female politicians are less likely than male politicians to engage in unethical behavior? Recently, a number of studies have shown a clear link between women in politics and reduced suspicions of fraud and corruption. Yet it is unclear what underlying mechanisms causes people to associate female politicians with reduced perceptions of fraud. While it is plausible that voters simply view women as more ethical and honest, we suspect the relationship between women and reduced suspicions of fraud may be more complex. We argue that there are three plausible reasons why women may be associated with reduced perceptions of fraud. First, women are often seen as political outsiders; voters may suspect that women do not have the connections and political networks necessary to become embroiled in corruption. Second, widespread evidence shows that women are more risk-averse than men. Thus, voters may assume that women are less likely to engage in unethical, fraudulent, or corrupt practices for fear of being caught. Third, the observed link may be fueled by gender stereotypes that women are more ethical and honest. We answer these questions using a novel survey experiment designed to adjudicate between these three plausible explanations.