Who is Victimized by Fraud? Evidence from Consumer Protection Cases

This paper examines how fraud victimization varies across communities using data on victims from 23 consumer protection law enforcement actions. These cases span several different types of fraudulent activity, including payday loan, student debt relief, health care, and business opportunity scams, p...

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Bibliographic Details
Published in:Journal of consumer policy 2021-03, Vol.44 (1), p.43-72
Main Author: Raval, D.
Format: Article
Language:English
Subjects:
Alternative financial services
Commercial Law
Community
Consumer protection
Credit ratings
Debt cancellation
Economic Policy
External debt relief
Fraud
Health care
Household size
Law enforcement
Marketing
Original Paper
Personal loans
Social Sciences
Victimization
Victims
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Summary:This paper examines how fraud victimization varies across communities using data on victims from 23 consumer protection law enforcement actions. These cases span several different types of fraudulent activity, including payday loan, student debt relief, health care, and business opportunity scams, providing evidence on how demographics vary across types of fraud. For these cases, victim rates are higher in more heavily black, higher income, older, and more urban communities and are lower in more heavily Hispanic, higher household size, higher credit score, and more college-educated communities.
ISSN:0168-7034
1573-0700
DOI:10.1007/s10603-020-09466-w