Proceedings of the 3rd International Conference on Internet Finance and Digital Economy (ICIFDE 2023)

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Digital Aging, Mental Vulnerability and Financial Fraud Losses

——Based on the perspective of aging

Authors
Dan Shi1, *, YanYan Chang1
1School of Economics, Wuhan University of Technology, Wuhan, 430070, China
*Corresponding author. Email: shidan@whut.edu.cn
Corresponding Author
Dan Shi
Available Online 29 October 2023.
DOI
10.2991/978-94-6463-270-5_45How to use a DOI?
Keywords
Digital Aging; Financial Fraud; Mental Vulnerability
Abstract

In the context of the intersection of digitization and aging, the frequent occurrence of fraud incidents among the elderly poses a great threat to family financial security and has attracted the attention of all walks of life. Based on the China Health and Retirement Longitudinal Study data, this paper uses Probit and Tobit regression methods to empirically test the impact of digital aging on the financial fraud losses of the elderly. The research shows that digital aging can significantly reduce the possibility of actual financial fraud and the amount of financial fraud losses of the elderly, among which it has a greater impact on the elderly with higher cognitive ability, frequent contact with children and in the eastern region. Mental vulnerability will weaken the inhibitory effect of digital aging on financial fraud losses. Therefore, it provides corresponding countermeasures and suggestions for the financial risk prevention of elderly families from the aspects of government guidance, enterprise innovation, family feedback and personal fraud prevention, and provides new ideas for the development and implementation of financial anti-fraud.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 3rd International Conference on Internet Finance and Digital Economy (ICIFDE 2023)
Series
Atlantis Highlights in Economics, Business and Management
Publication Date
29 October 2023
ISBN
10.2991/978-94-6463-270-5_45
ISSN
2667-1271
DOI
10.2991/978-94-6463-270-5_45How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Dan Shi
AU  - YanYan Chang
PY  - 2023
DA  - 2023/10/29
TI  - Digital Aging, Mental Vulnerability and Financial Fraud Losses
BT  - Proceedings of the 3rd International Conference on Internet Finance and Digital Economy (ICIFDE 2023)
PB  - Atlantis Press
SP  - 402
EP  - 411
SN  - 2667-1271
UR  - https://doi.org/10.2991/978-94-6463-270-5_45
DO  - 10.2991/978-94-6463-270-5_45
ID  - Shi2023
ER  -