Who Is Next? A Study on Victims of Financial Fraud in Japan.
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ABSTRACT:
SUBMITTER: Kadoya Y
PROVIDER: S-EPMC8283193 | biostudies-literature |
REPOSITORIES: biostudies-literature
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Project description:AimResearch on deception detection has usually been executed in experimental settings in the laboratory. In contrast, the present research investigates deception detection by actual victims and near victims of fraud, as reported in their own words.Materials and methodsOur study is based on a nationally representative survey of 11 types of (mostly) online fraud victimization (N = 2,864). We used qualitative information from actual victims and near victims on why they didn't fall for the fraud, or how, in hindsight, it could have been prevented.ResultsThe main detection strategies mentioned by near victims (N = 958) were 1) fraud knowledge (69%): these near victims clearly recognized fraud. Other strategies related to fraud knowledge were: noticing mistakes (27.9%), rules and principles about safe conduct (11.7%), and personal knowledge (7.1%). A second type of strategy was distrust (26.1%). A third strategy was 'wise through experience' (1.6%). Finally, a limited number of respondents (7.8%) searched for additional information: they contacted other people (5.5%), sought information online (4%), contacted the fraudster (2.9%), contacted their bank or credit card company (2.2%), or contacted the police (0.2%). Using knowledge as a strategy decreases the probability of victimization by a factor of 0.43. In contrast, all other strategies increased the likelihood of victimization by a factor of 1.6 or more. Strategies generally were uncorrelated, several strategies differed by type of fraud. About 40% of the actual victims (N = 243) believed that their victimization might have been prevented by: 1) seeking information (25.2%), 2) paying more attention (18.9%), 3) a third party doing something (16.2%), 4) following safety rules or principles, like using a safer way of paying or trading (14.4%), or by 5) 'simply not going along with it' (10.8%). Most of these strategies were associated with a higher, not lower, likelihood of victimization.ConclusionClearly, knowledge of fraud is the best strategy to avoid fraud victimization. Therefore, a more proactive approach is needed to inform the public about fraud and attackers' modus operandi, so that potential victims already have knowledge of fraud upon encountering it. Just providing information online will not suffice to protect online users.
| S-EPMC10213419 | biostudies-literature
Project description:ObjectivesThe consequences of poor financial capability at older ages are serious and include making mistakes with credit, spending retirement assets too quickly, and being defrauded by financial predators. Because older persons are at or past the peak of their wealth accumulation, they are often the targets of fraud.MethodsOur project analyzes a module we developed and fielded on people aged 50 an older years in the 2016 Health and Retirement Study (HRS). Using this data set, we evaluated the incidence and prospective risk factors (measured in 2010) for investment fraud and prize/lottery fraud using logistic regression (N = 1,220).ResultsRelatively few HRS respondents mentioned any single form of fraud over the prior 5 years, but 5.0% reported at least one form of investment fraud and 4.4% recounted prize/lottery fraud. Greater wealth (nonhousing) was associated with investment fraud, whereas lower housing wealth and symptoms of depression were associated with prize/lottery fraud. Hispanics were significantly less likely to report either type of fraud. Other suspected risk factors-low social integration and financial literacy-were not significant.DiscussionFraud is a complex phenomenon and no single factor uniquely predicts victimization across different types, even within the category of investment fraud. Prevention programs should educate consumers about various types of fraud and increase awareness among financial services professionals.
| S-EPMC7328021 | biostudies-literature
Project description:Objectives To determine the longitudinal impact of elder financial and psychological abuse on risk of death among older Malaysians. Design 7-year prospective cohort study. Baseline data were collected in late 2013 and respondents were followed up in June 2020. Setting Kuala Pilah, Negeri Sembilan, Malaysia. Participants 1927 community-dwelling older adults aged 60 or older randomly sampled from the national census. Individuals with severe cognitive impairment were excluded. Outcome measure Mortality data were provided by the Malaysian National Registration Department and linked to respondents’ national identification numbers. Kaplan-Meier curves and Cox regression were used to examine victims’ survival periods and the impact of abuse on risk of death. Results Overall, 450 respondents (23.4%) died after 7 years. Among financial and psychological abuse victims, death percentage was 25.8% compared with 23.3% among those who did not experience these types of abuse. Kaplan-Meier curves showed shorter survival among abuse victims, but Cox regression found no significant impact of financial and psychological abuse on mortality risk (HR 1.05, 95% CI 0.78 to 1.41). Among all the variables studied, only cognitive impairment led to higher mortality risk (HR 1.32, 95% CI 1.03 to 1.69). Conclusion Our findings contradict prior empirical studies that supported the link between elder abuse and neglect (EAN) and mortality, even though we focused on two abuse subtypes. Results in this study are more in line with the recently emerging evidence that showed no association between EAN and mortality.
| S-EPMC9301796 | biostudies-literature
Project description:In this study, we examine the relationship between financial literacy, financial education, and smoking behavior among the Japanese population. We hypothesize that financially literate and financially educated people, who have the ability to make more rational decisions, are less likely to smoke. Using the Preference Parameters Study of Osaka University, conducted in 2010 (N = 3,706), the probit regression results show that both financial literacy (with an emphasis on knowledge of investments) and financial education (with an emphasis on savings behavior) have a significant negative impact on smoking behavior. In addition, gender, age, education, marital status, household income and assets, risky behaviors, a myopic view of the future, risk preference, and level of happiness also significantly predict the likelihood of a person being a current smoker. This study provides empirical evidence that enhancing the rational decision-making ability of individuals through financial literacy and financial education may curtail smoking behavior.
| S-EPMC7844398 | biostudies-literature
Project description:ObjectiveThe aim of this study is to investigate the association between financial literacy and age as well as gender differences in financial literacy.MethodsWe analyse a sample of 25,000 individuals from 'The Financial Literacy Survey 2016' conducted by the Central Council for Financial Services Information (Bank of Japan). The analysis focuses on the relationship of age and financial literacy as well as that of age and self-rated financial knowledge. To consider factors accounting for gender differences in financial literacy, we use the Blinder-Oaxaca decomposition method. To further our understanding of financial literacy, we conduct additional analyses on financial behaviour and attitude.ResultsAlthough age is associated with increased financial literacy (Men, β: 0.249, standard error [SE]: 0.030; Women, 0.354, SE: 0.026), the growth rate decreases among the older respondents (Men, β: -0.002, SE: 0.000; Women, -0.003, SE: 0.000). However, the association between age and self-rated financial knowledge among men moves in the opposite direction (Age, β: -0.021, SE: 0.009, Age2, β: 0.000, SE: 0.000). Furthermore, female respondents are likely to be less financially literate than their male counterparts (β: -0.586, SE: 0.095) due to gender differences in the distribution of the factors that affect financial literacy (specifically education), their responses to financial literacy, and the interactions of these effects. In contrast to knowledge-based financial literacy, financial behaviour and attitudes among women are more preferable to those among men, namely, more premeditated.ConclusionFinancial literacy increases until about one's early 60s, after which it declines, while confidence in financial literacy reflects the inverse trend, especially among men. Additionally, men are more financially literate than women; however, these differences could be mitigated through education. Meanwhile, financial behaviour and attitudes among men are less premeditated. Thus, policies are needed that can help older adults with their financial decision-making, enhance women's financial literacy, and improve men's financial behaviours and attitudes.
| S-EPMC8598074 | biostudies-literature
Project description:BACKGROUND:Lifestyle and life-environment factors have undergone drastic changes in Japan over the last few decades. Further, many molecular epidemiologic studies have reported that genetic, epigenetic, and other biomarker information may be useful in predicting individual disease risk. METHODS:The Japan Public Health Center-based Prospective Study for the Next Generation (JPHC-NEXT) was launched in 2011 to identify risk factors for lifestyle-related disease, elucidate factors that extend healthy life expectancy, and contribute toward personalized healthcare based on our more than 20 years' experience with the JPHC Study. From 2011 through 2016, a baseline survey was conducted at 16 municipalities in seven prefectures across the country. A self-administered questionnaire was distributed to all registered residents aged 40-74, which mainly asked about lifestyle factors, such as socio-demographic situation, personal medical history, smoking, alcohol and dietary habits. We obtained informed consent from each participant to participate in this long follow-up study of at least 20 years, including consent to the potential use of their residence registry, medical records, medical fee receipts, care insurance etc., and to the provision of biospecimens (blood and urine), including genomic analysis. RESULTS:As of December 31, 2016, we have established a population-based cohort of 115,385 persons (Response rate 44.1%), among whom 55,278 (47.9% of participants) have provided blood and urine samples. The participation rate was slightly higher among females and in the older age group. CONCLUSION:We have established a large-scale population-based cohort for next-generation epidemiological study in Japan.
| S-EPMC6908844 | biostudies-literature
Project description:Aims/introductionPoverty is an important social determinant of diabetes. Poverty is a multidimensional concept including non-financial difficulties, such as social isolation and exclusion from communities. Many countries provide financial social assistance programs for those in need. This study aimed to explore non-financial social determinants of diabetes among public assistance recipients in Japan, by using linkage data of two municipal public assistance databases and medical assistance claim data.Materials and methodsWe carried out a retrospective cohort study. Public assistance is provided to households below the poverty line to ensure their income security. We extracted recipients' sociodemographic factors of January 2016 (household number and employment status as non-financial social determinants of diabetes) and identified the incidence of diabetes diagnosis until December 2016 as the outcome.ResultsWe included the data of 2,698 younger individuals (aged <65 years) and 3,019 older individuals (aged >65 years). A multivariable Poisson regression, with a robust standard error estimator, showed that among 2,144 younger recipients at risk, unemployment and living alone were slightly associated with 1-year cumulative incidence of diabetes diagnosis (adjusted incidence ratio 1.20, 95% confidence interval 0.93-1.54 and adjusted incidence ratio 1.15, 95% confidence interval 0.89-1.48, respectively). Among 2,181 older recipients at risk, there was no strong association between their sociodemographic factors and incidence of diabetes diagnosis.ConclusionsUnemployment and living alone might be additional risk factors for diabetes among younger public assistance recipients. Multidimensional supports assuring financial and non-financial securities are required to prevent diabetes among people living in poverty.
| S-EPMC8169356 | biostudies-literature
Project description:Despite the considerable amount of research devoted to understanding fraud, few studies have examined how the physical environment can influence the likelihood of committing fraud. One recent study found a link between room brightness and occurrence of human fraud behaviors. Therefore, the present study aims to investigate how temperature may affect fraud. Based on a power analysis using the effect size observed in a pilot study, we recruited 105 participants and randomly divided them into three temperature groups (warm, medium, and cool). We then counted fraud behaviors in each group and tested for potential significant differences with a Kruskal-Wallis test. Additionally, we used a correlation analysis to determine whether the perceived temperature affected fraud. As a result, regardless of participants' subjective sensory experience or their physical environment, we did not find that temperature-related factors influence the incidence of fraud. We discussed the potential reason for the results and suggested directions for future research.
| S-EPMC7677414 | biostudies-literature
Project description:BackgroundIn areas affected by the tsunami of the great East Japan Earthquake, smoking behavior may have deteriorated due to high stress and drastic changes in living environment. Surveys were conducted to reveal changes in smoking behaviors among victims.MethodsA population-based random-sample home-visit interview survey of victims in Iwate and Miyagi Prefectures affected by the tsunami disaster was conducted in 2012 (n = 1978), while a population-based nationwide survey was conducted in 2013 (n = 1082). A panel survey in 2014 was conducted with respondents of the 2012 survey (n = 930). Multiple logistic regression analysis was performed to reveal factors related to smoking status after the disaster.ResultsThere was high smoking prevalence of both sexes in the tsunami disaster area (current smoking rate in coastal area, 50.0% for male, 21.4% for female; inland area, 34.7% for male, 7.6% for female). Low prevalence of male quitters was observed (quitter rate in coastal area, 20.8% for male, 8.0% for female; inland area, 23.4% for male, 5.5% for female). The prevalence of nicotine-dependent people assessed by FTND (Fagerström Test for Nicotine Dependence) in the coastal area was also higher than in the inland area or other areas of Japan. Smoking behavior among victims worsened after the disaster and did not improve 3?years from the disaster. Post-disaster factors related to smoking were living in coastal area, complete destruction of house, and living in temporary housing.ConclusionsSmoking prevalence and the level of nicotine dependence of tsunami victims were still high even 3?years after the disaster. It is important to emphasize measures for smoking control in the disaster areas for an extended time period.
| S-EPMC7291441 | biostudies-literature
Project description:Statistical fraud detection consists in making a system that automatically selects a subset of all cases (insurance claims, financial transactions, etc.) that are the most interesting for further investigation. The reason why such a system is needed is that the total number of cases typically is much higher than one realistically could investigate manually and that fraud tends to be quite rare. Further, the investigator is typically limited to controlling a restricted number k of cases, due to limited resources. The most efficient manner of allocating these resources is then to try selecting the k cases with the highest probability of being fraudulent. The prediction model used for this purpose must normally be regularised to avoid overfitting and consequently bad prediction performance. A loss function, denoted the fraud loss, is proposed for selecting the model complexity via a tuning parameter. A simulation study is performed to find the optimal settings for validation. Further, the performance of the proposed procedure is compared to the most relevant competing procedure, based on the area under the receiver operating characteristic curve (AUC), in a set of simulations, as well as on a credit card default dataset. Choosing the complexity of the model by the fraud loss resulted in either comparable or better results in terms of the fraud loss than choosing it according to the AUC.
| S-EPMC10332194 | biostudies-literature