Vulnerability and fraud: evidence from the COVID-19 pandemic

• DOI: 10.1057/s41599-022-01445-5
• Publication Date: 2022-11-28T19:03:48Z
• Authors: Yun Zhang; Qun Wu; Ting Zhang; Lingxiao Yang
• Keywords: Vulnerability; Pandemic; Financial Literacy; 2019-20 coronavirus outbreak

This study examines consumer fraud at the onset of COVID-19 pandemic and provides novel evidence for opportunity model predatory victimization. Scammers have taken advantage shock to exploit victims who are already vulnerable suffering. The number cases has greatly increased as spread across U.S., consistent with vulnerable-to-become-victimization hypothesis based on A Google Trends analysis shows that increase in scams is attributable victims' vulnerability rather than their awareness motivation report scams. An improvement financial literacy associated reduction finance-related Finally, we provide important policy implications protect people from