Financial literacy, old-age dependency ratio and household fraud risk

Wei He, Wenhao Ling and Ziyi Chen

Finance Research Letters, 2025, vol. 75, issue C

Abstract: This study explores the intricate connection between individuals’ financial acumen and their households’ vulnerability to fraud. Using China Household Finance Survey data from 2017, 2019, and 2021, we uncover a compelling trend. An inverse correlation exists between heightened financial literacy and the likelihood of households encountering fraudulent losses. Furthermore, the elderly dependency ratio emerges as a potential moderating factor, exerting a mitigating influence. Notably, we find that financial literacy exerts a pronounced effect in mitigating the risk of fraud for male-headed households, underscoring its significance in safeguarding against threats.

Keywords: Financial literacy; Elderly dependency ratio; Fraud risk (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:75:y:2025:i:c:s1544612325001011

DOI: 10.1016/j.frl.2025.106836

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