The study of fraud types and factors influencing financial fraud behavior

Abstract

In the current era of digital technological advancement, transformative changes in human lifestyle have emerged, simultaneously creating increasingly complex challenges. One critical issue is financial fraud, which represents a significant threat with extensive impacts on individuals, society, and the economic system. This research initially investigates the factors influencing financial fraud vulnerability and the typologies of fraudulent schemes that trigger susceptibility. The study categorizes fraudulent methods into five distinct types: opportunity-based scams, threat-based scams, consumer purchase scams, phishing scams, and romance scams. Data was collected through questionnaires from a sample of 200 participants to identify the two most believable fraud typologies. Subsequently, these fraud patterns were subjected to experimental simulation involving 100 experimental participants to determine the most persuasive deception strategy. The research findings revealed multiple factors contributing to financial fraud vulnerability, including Age, Marital status, Education level, Monthly income, financial damage incurred, Opportunity-based scams, Consumer purchase scams, Phishing scams Notably, the experimental results demonstrated that consumer purchase scams exhibited the highest potential for inducing participant susceptibility.