Social capital and financial fraud among the elderly1

Abstract

Based on data from the 2018 China Health and Retirement Longitudinal Study, this paper analyzes the effect of social capital on the likelihood of financial fraud among individuals aged 55 and above. The results show that social participation increases the risk of financial fraud, while social support and social security reduce the risk. The moderation effects indicate that an increase in life satisfaction weakens the exacerbating effect of social participation on financial fraud; economic support from children strengthens the mitigating effect of social support on financial fraud; and the decline in activity of daily living among older adults weakens the protective effect of social security against financial fraud.