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Research highlights the impact of routine activities and social factors on fraud victimization
RESEARCH TRIANGLE PARK, N.C. — Nonprofit research institute RTI International, along with the FINRA Investor Education Foundation (FINRA Foundation) and the University of Minnesota, released a report this week analyzing survey data from known fraud victims to describe social and behavioral factors that lead to fraud victimization among older adults.
The report suggests that older adults who engage in routine activities that increase fraud exposure — such as opening junk mail, entering sweepstakes drawings to win prizes, answering unknown calls and interacting with telemarketers — had a greater number of different fraud victimization experiences. Older age, loneliness, financial or emotional vulnerability, and risky financial preferences and behaviors were also linked to more forms of victimization.
"Understanding the factors that make older adults more susceptible to fraud is crucial for developing effective prevention strategies," said Lynn Langton, Ph.D., director of the victimization and response program at RTI. "Our study highlights the importance of addressing social and financial vulnerabilities and educating individuals about the risks associated with certain activities and behaviors."
Frequent online activity was tied to fewer fraud victimization experiences, contrary to common assumptions, and both engagement and living with others were unrelated to the number of different forms of fraud victimization experiences.
The research team analyzed survey data from 905 known fraud victims identified by the U.S. Postal Inspection Service (USPIS).
The FINRA Investor Education Foundation provided funding for data analysis and manuscript development. The National Institute of Justice, Office of Justice Programs, U.S. Department of Justice Award No. 2019-R2-CX-0053, provided funding to develop the survey and collect data.
View the full report
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