How fraud impacts individuals’ wellbeing – academic insights and gaps

• Published in: Journal of financial crime 2024-10, Vol.31 (5), p.1261-1268
• Main Author: Kassem, Rasha
• Format: Article
• Language: English
• Subjects: Corruption; Cybercrime; Decision making; Fraud; Income inequality; Literacy; Older people; Suicidal ideation; Victimization; Well being
• ISSN: 1359-0790; 1359-0790; 1758-7239
• DOI: 10.1108/JFC-08-2023-0215

Purpose This paper aims to discuss the impact of fraud on individuals’ wellbeing by drawing on insights from the academic literature. It also highlights literature gaps and suggests new avenues for future research. Design/methodology/approach This paper is based on a comprehensive literature review to gain insights into the impact of fraud on individuals’ wellbeing and identify literature gaps. The review is not limited to a particular date or a specific discipline. Findings The results reveal a general consensus in the literature that fraud severely and negatively impacts individuals’ wellbeing. Fraud’s impact on victims goes beyond financial hardship. It could result in stress, anger, upset, worries, fear of future victimisation, shame, loss of self-esteem, health deterioration, loss of confidence in financial matters, suicide ideation, unemployment, homelessness, less happiness and life satisfaction and broken relationships. However, research on how fraud impacts individuals’ wellbeing is scarce and has yet to receive substantial attention. Originality/value To the best of the author’s knowledge, this is the first comprehensive literature review compiling evidence on the impact of fraud on individuals’ wellbeing.