Financial Fraud Among Older Americans: Evidence and Implications.

ABSTRACT:

Objectives

The consequences of poor financial capability at older ages are serious and include making mistakes with credit, spending retirement assets too quickly, and being defrauded by financial predators. Because older persons are at or past the peak of their wealth accumulation, they are often the targets of fraud.

Methods

Our project analyzes a module we developed and fielded on people aged 50 an older years in the 2016 Health and Retirement Study (HRS). Using this data set, we evaluated the incidence and prospective risk factors (measured in 2010) for investment fraud and prize/lottery fraud using logistic regression (N = 1,220).

Results

Relatively few HRS respondents mentioned any single form of fraud over the prior 5 years, but 5.0% reported at least one form

SUBMITTER: DeLiema M 

PROVIDER: S-EPMC7328021 | biostudies-literature | 2020 Mar

REPOSITORIES: biostudies-literature