RISK FACTORS FOR FINANCIAL FRAUD AND INTERVENTION STRATEGIES IN DIFFERENT CULTURAL SETTINGS
2024
Risk Factors for Financial Fraud in Older Adults
publication
Author Information
Author(s): Mi Hong, Peter Lichtenberg
Primary Institution: Oxford University Press US
Hypothesis
What are the risk factors for financial fraud targeting older adults in different cultural settings?
Conclusion
The studies reveal various risk factors for financial fraud among older adults in China and the U.S., along with effective intervention strategies.
Supporting Evidence
- Lower education levels, advanced age, and loneliness are risk factors for financial fraud.
- Awareness of rights protection and quality sleep are protective factors against financial fraud.
- Psychological vulnerability and material wealth mediate the effects of family dynamics on fraud victimization.
- Low education and social isolation are common risk factors for postal scams in the U.S.
- Financial literacy and internet safety can reduce financial fraud risks among older individuals.
Takeaway
Older people can be tricked into losing money, and understanding what makes them vulnerable can help protect them.
Methodology
The symposium included five studies using surveys and machine learning to analyze risk factors and intervention strategies.
Participant Demographics
Older adults in mainland China and the U.S.A.
Digital Object Identifier (DOI)
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