Understanding aging and consumer fraud victimization in the Chinese context: A two-stage conceptual approach

Perceptions of Consumer Fraud and Aging Among Older People and the Judiciary in China

Systematic research has been conducted on the relationship between aging and consumer fraud victimization. But few empirical studies examine the reality of judicial dispute resolution in consumer fraud against older people from the perspective of older adults and judges in China. Based on 161 court rulings, this qualitative study explores the perceptions of older adults in litigation about their experiences of being defrauded in China, alongside judges' responses. Results reveal that common fraud patterns used by business perpetrators render older individuals more susceptible to fraud. Older plaintiffs strategically frame "old age" in litigation, potentially as a tactical maneuver, while also readily emphasizing the importance of procedural justice. Results further show that judges expressed either negative ageism or age-neutral discourse in response to fraud targeting older individuals. Findings highlight the need to enhance consumer education to prevent fraud and address ageist stereotypes among older people. Findings also highlight the need to encourage Chinese courts to consider individual case specifics, leading to fair judgments and the protection of older individuals from fraud while upholding their rights.

Association of Financial Literacy and Risk Preference With Fraud Exposure and Victimization Among Middle-Aged and Older Adults in China

Fraud jeopardizes older people's physical, mental, and economic well-being, and financial literacy and risk preference have been linked to the risk of fraud experience. Given the inconsistent evidence, we investigated whether financial literacy and risk preferences were associated with fraud exposure and victimization among middle-aged and older adults. We analyzed data from the 2015 China Household Finance Survey, including 22,121 participants aged 50 and older. Poisson regression models were conducted to determine the association of financial literacy and risk preference with fraud experience. We found that financial literacy and risk preference were positively associated with fraud exposure and victimization. The prevalence of fraud victimization among middle-aged and older adults with the highest financial literacy and risk preference levels was 46.5% and 45.8% higher than among those with the lowest levels, respectively. These findings suggested that basic financial knowledge is insufficient to protect older people from fraud exposure and victimization.

Effects of Social Support and Loneliness on the Irrational Consumption Tendencies of Healthcare Products among the Elderly: A Structural Equation Model

BACKGROUND

In recent years, with the development of the social economy and an improvement in health consciousness, the levels of demand and consumption for healthcare products have been increasing rapidly among the elderly. However, the irrational consumption of healthcare products has caused widespread concern, as it can generate economic losses and have negative effects on psychological health. Therefore, it is critical to identify the variables that can reduce tendencies toward irrational consumption in the area of healthcare products. This study aimed to explore the relationship between the irrational consumption tendencies of healthcare products, social support, and loneliness among elderly people in Hangzhou, China.

METHODS

In 2021, a cross-sectional survey involving 485 elderly people from three districts in Hangzhou, China, was conducted. Descriptive statistics were calculated for socioeconomic status and demographic characteristics, level of loneliness, social support, and irrational consumption tendencies. A structural equation model was used to test the impact of social support on the irrational consumption tendencies of healthcare products among the elderly and to explore the mediating effects of loneliness.

RESULTS

The findings reveal that the average levels of social support and loneliness among the elderly were 30.63 points (total = 44 points) and 6.88 points (15 points), respectively. The average scores of the four subscales of irrational consumption tendencies, which were named susceptibility to persuasion, interpersonal influences, pursuit of added value, and fears of aging were 2.48, 2.93, 2.48, and 3.17 points (5 points), respectively. Social support had a significant effect on irrational consumption tendencies, and loneliness played a partial mediating role between social support and irrational consumption tendencies.

CONCLUSIONS

A relationship model was constructed to examine the association between loneliness, social support, and irrational consumption tendencies among older people in relation to healthcare products. From a social support and psychological perspective, advice and countermeasures are proposed to prevent the irrational consumption of healthcare products among older people.

Integrating Individual Factors to Construct Recognition Models of Consumer Fraud Victimization

Consumer financial fraud has become a serious problem because it often causes victims to suffer economic, physical, mental, social, and legal harm. Identifying which individuals are more likely to be scammed may mitigate the threat posed by consumer financial fraud. Based on a two-stage conceptual framework, this study integrated various individual factors in a nationwide survey (36,202 participants) to construct fraud exposure recognition (FER) and fraud victimhood recognition (FVR) models by utilizing a machine learning method. The FER model performed well (f1 = 0.727), and model interpretation indicated that migration status, financial status, urbanicity, and age have good predictive effects on fraud exposure in the Chinese context, whereas the FVR model shows a low predictive effect (f1 = 0.565), reminding us to consider more psychological factors in future work. This research provides an important reference for the analysis of individual differences among people vulnerable to consumer fraud.