How does financial inclusion act as a catalyst for reducing financial crime among women?

Tooba Akram, Naveed Muhammad and Suresh RamaKrishnan

Journal of Financial Crime, 2024, vol. 32, issue 2, 279-287

Abstract: Purpose - This study aims to review financial inclusion as a catalyst to reduce financial scams and frauds faced by women in the five largest US states by population and proposed measures encouraging women’s financial safety. Design/methodology/approach - Recognizing the unique socioeconomic landscape, the study seeks responses through a survey questionnaire from 4,113 women respondents analyzed by using a basic mixed-methods approach, including quantitative surveys analyzed through SPSS and qualitative short interviews thematically analyzed by using Nvivo. Findings - The review results show that 94% of women believe that financial inclusion can protect them from scams and fraud. Also, it has been observed that financial crimes disproportionately affect women, often stemming from a desire to conceal such activities from close family members and partners. Older women, housewives and those from financially depressed areas need more financial inclusion plans to curb financial fraud. Social implications - The proposed measures may have positive social and economic implications on the females residing in the financially depressed areas. Originality/value - The study represents the authors’ original contribution, examining the role of financial inclusion in preventing women from engaging in financial crimes.

Keywords: Financial crime; Women; Financial inclusion; USA (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jfcpps:jfc-02-2024-0058

DOI: 10.1108/JFC-02-2024-0058

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