Fraud Victimization in Older Chinese Adults
Author Information
Author(s): Cai Xiuting, Ma Guoyong, Zhu Hongge
Primary Institution: Northeast Forestry University, Harbin, Heilongjiang, China (People’s Republic)
Hypothesis
How do internet usage and financial literacy affect financial fraud victimization among older adults in forest town areas of China?
Conclusion
Internet usage increases the risk of financial fraud, while financial literacy helps protect older adults from such fraud.
Supporting Evidence
- Internet usage correlates with a heightened risk of financial fraud.
- Financial literacy significantly reduces older adults’ susceptibility to fraud and financial losses.
- Older women tend to have lower risks for financial fraud compared to men due to higher financial literacy.
- Loneliness and living alone are associated with higher financial fraud risks.
- Empty-nest status or living with disabilities increases vulnerability to financial fraud.
Takeaway
Using the internet can make older people more likely to be tricked into losing money, but knowing about finances can help keep them safe.
Methodology
The study used panel data collected annually from 2012 to 2023, focusing on various aspects of resident livelihoods and well-being.
Participant Demographics
Older adults living in forest town areas in northeast China.
Digital Object Identifier (DOI)
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