Assessing Scam Victimization Risk Factors among Retired Adults

The increasing prevalence of online fraud and scams disproportionately affects vulnerable groups, particularly retired adults. This study examines the multifaceted factors contributing to scam susceptibility within this demographic, including financial instability, digital literacy, social isolation, and life transitions. Utilizing a mixed-method approach, the research incorporates quantitative analyses, such as correlation and regression, alongside qualitative thematic exploration to identify both risk and protective factors. The study identifies several risk factors contributing to increased scam victimization among retired adults, including limited digital literacy, lack of scam awareness, and cognitive decline. It notes that access to retirement funds also poses a risk but is less concerning to participants compared to other factors. The research underscores the importance of digital skills, awareness of common scams, and strong social support networks in mitigating these risks. To combat these vulnerabilities, the study advocates for targeted educational campaigns and the development of enhanced social support systems specifically tailored to the needs of older adults. It highlights the crucial role of social guardians, such as family members and financial advisors, in providing regular engagement and financial guidance to prevent scams. The study recommends a multifaceted approach to address the unique needs of retired individuals, focusing on improving digital literacy, fostering community connections, and implementing accessible programs that support online transactions. Efforts to reduce social isolation through community engagement are seen as vital to mitigating risks associated with limited social support. Moreover, the research calls for continued exploration into how demographic factors influence scam susceptibility and the development of inclusive, effective intervention strategies