Cognitive, socio-emotional and financial correlates of financial exploitation versus fraud

Purpose Each year, millions of adults experience financial exploitation or fraud. As they are often grouped together, it remains unclear whether individuals differ in their susceptibility to financial exploitation versus fraud. The study aimed to examine factors associated with financial exploitation versus fraud by including cognitive, socio-emotional, and financial measures within a lifespan sample. Design/methodology/approach A sample of 195 adults aged 18–89 completed measures assessing cognitive functioning, socio-emotional and financial factors, physical health, and demographic characteristics. Participants also reported experiences of financial exploitation and fraud, as well as their likelihood of responding to sweepstakes scam solicitations. Findings Financial exploitation and fraud were associated with different risk factors. Lower financial well-being was associated with reporting of financial exploitation, whereas lack of retirement worries was the strongest predictor of fraud. Intentions to contact sweepstakes scam solicitations were most strongly associated with higher levels of ostracism and being male. Originality/value By distinguishing financial exploitation from fraud, this study highlights the importance of tailoring prevention and intervention efforts to the specific risk profile associated with each form of financial victimization.