Financial Fraud, Mental Health, and Quality of Life: A Study on the Population of the City of Madrid, Spain

Encarnación Sarriá, Patricia Recio, Ana Rico, Manuel Díaz-Olalla, Belén Sanz-Barbero, Alba Ayala and María Victoria Zunzunegui
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Encarnación Sarriá: Faculty of Psychology, National University for Distance Education (UNED), 28015 Madrid, Spain
Patricia Recio: Faculty of Psychology, National University for Distance Education (UNED), 28015 Madrid, Spain
Ana Rico: Joint Research Institute IMIENS, 28029 Madrid, Spain
Manuel Díaz-Olalla: Institute of Public Health, Madrid Salud, City Council of Madrid, 28029 Madrid, Spain
Belén Sanz-Barbero: Joint Research Institute IMIENS, 28029 Madrid, Spain
Alba Ayala: National School of Public Health, Carlos III Institute of Health, 28029 Madrid, Spain
María Victoria Zunzunegui: Joint Research Institute IMIENS, 28029 Madrid, Spain

IJERPH, 2019, vol. 16, issue 18, 1-14

Abstract: Over the past few decades, the financial system has engaged in abusive practices that meet the definition of fraud. Our objective is to compare the prevalence of psychological distress and levels of health-related quality of life according to having been exposed to financial fraud and its economic impact on family finances. The City of Madrid Health Survey 2017 included specific questions on exposure to financial fraud—this section was administered to half of the participants ( n = 4425). Mental health need or caseness was defined by a score greater than two on the 12-item version of the Goldberg health questionnaire. Health-related quality of life was assessed by the Darmouth Coop Functional Health Assessment Charts/WONCA (COOP/WONCA). The prevalence of financial fraud was 10.8%. The prevalence rate ratio for caseness of those who experienced severe economic impact due to fraud was 1.62 (95%, CI 1.17–2.25; reference: no fraud), after adjustment by age, sex, social class, and immigrant status. Women experienced a decreased quality of life, even with a moderate impact of fraud, while men experienced a decreased quality of life related to fraud with severe economic impact. The current study contributes to a growing body of literature showing the effects of economic shocks on health as a result of financial fraud.

Keywords: mental health; quality of life; fraud; financial fraud; Spain (search for similar items in EconPapers)
JEL-codes: I I1 I3 Q Q5 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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