Fraud and the Elderly

Elderly Fraud Victimization

Prevalence and Predictors of Fraud Victimization among the Elderly

Prevalence and Predictors of Fraud Victimization among the Elderly

Applied Research and Consulting (ARC, 2013) conducted a recent national online survey for the FINRA Investor Education Foundation, with the goal of quantifying the prevalence of fraud victimization among the American adult population. Any American over the age of 40 was invited to participate, but for the purposes of meeting the 2010 Census distribution for age, ethnicity, and geographic location the sample was limited to 2,364. The primary focus of the study was financial fraud, including red flag persuasion tactics, cold calls, free lunch seminars, oil and gas scams, promissory note scams, pump and dump, pre-IPO scams, multi-level marketing, digital currency, lottery scams, and affinity (relatives) fraud. On a scale of one to ten, with one representing the most risk averse, persons over the age...
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