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This is the first study to use longitudinal data to explore both the antecedents and
consequences of fraud victimization in the older population. Because older persons are
close to or past the peak of their wealth accumulation, they are often the targets of fraud.
This paper reports on analysis of the Leave Behind Questionnaires (LBQs) fielded on
Health and Retirement Study (HRS) respondents over three survey waves in 2008, 2010,
and 2012. We evaluate the demographic determinants and risk factors of reporting
financial fraud victimization in the survey, and explore whether there are demographic
subgroups of older victims. In addition, we examine the financial, physical and
psychological consequences of fraud. Overall results suggest that there is no single reliable
predictor of fraud victimization across all three LBQ samples. When LBQ responses were
pooled across survey years, we found that younger, male, better-educated, and depressed
persons reported being defrauded significantly more often. Victimization was associated
with lower nonhousing wealth in the combined sample controlling for other factors, but had
no measurable impact on cognitive, psychological, or physical health outcomes. Future
research should examine predictors and outcomes based on the type of financial fraud
experienced and the amount of money lost.

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