Exploring the Risk and Protective Factors of Elder Financial Fraud Using Life Course Theory

• In Event: Advancing Criminology and Criminal Justice Policy

Abstract

Although elder financial fraud has begun to receive increasing attention, the available research is largely fragmented and without meaningful theoretical support. Without a better description and understanding of the elder fraud problem, policies and practices used to confront the problem will most likely have limited impact. Employing Life Course theory, this study assesses the risk and protective factors of elder financial exploitation in a Florida large retirement community. Findings are presented from a research project funded by Merrill Lynch. Local and national fraud complaint data was collected and analyzed to draw comparisons between the national samples and data collected from the retirement community. These data were then used to inform focus groups and individual interviews with concerned and victimized senior citizens to identify the salient risk and protective factors for elder financial fraud. Through this study, various transitions and turning points that routinely occur to elder citizens were found to have influenced their likelihood of financial fraud victimization. Implications for policy and practice as well as a plan for developing a large national stratified sample of senior citizens will be discussed.

Author

• Julie Mestre Brancale, Florida State University