Vulnerability and fraud: evidence from the COVID-19 pandemic.
Humanit Soc Sci Commun
; 9(1): 424, 2022.
Article
in English
| MEDLINE | ID: covidwho-2133843
ABSTRACT
This study examines consumer fraud at the onset of the COVID-19 pandemic and provides novel evidence for the opportunity model of predatory victimization. Scammers have taken advantage of the COVID-19 pandemic shock to exploit victims who are already vulnerable and suffering. The number of fraud cases has greatly increased as COVID-19 spread across the U.S., consistent with the vulnerable-to-become-victimization hypothesis based on the opportunity model of predatory victimization. A Google Trends analysis shows that the increase in fraud and scams is attributable to victims' increased vulnerability rather than to their awareness of fraud and increased motivation to report scams. An improvement in financial literacy is associated with the reduction of finance-related fraud and scams. Finally, we provide important policy implications to protect people from fraud victimization.
Full text:
Available
Collection:
International databases
Database:
MEDLINE
Language:
English
Journal:
Humanit Soc Sci Commun
Year:
2022
Document Type:
Article
Affiliation country:
S41599-022-01445-5
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