FUNCTIONAL SKILLS ASSESSMENT
FUNCTIONAL SKILLS ASSESSMENT
Novel methods for assessment of vulnerability to financial exploitation (FE)
Beach et al., Journal of Elder Abuse & Neglect (2023)
Journal of Elder Abuse & Neglect
Novel methods for assessment of vulnerability to financial exploitation
SUMMARY
Financial exploitation (FE) is a complex problem influenced by many factors. This article introduces two novel methods for assessment of FE vulnerability: (1) performance-based measures of financial skills using web-based simulations of common financial tasks; (2) scam vulnerability measures based on credibility ratings of common scam scenarios.
On the scenario-based measures, older adults who were male, younger, African American, less educated, and lower income showed higher FE vulnerability. Higher scam vulnerability was also related to poorer performance on the simulated financial tasks, lower cognitive function, less experience with technology, more financial conflict/anxiety, more impulsivity, and more stranger-initiated FE. Findings indicate that these novel measures show promise as valid indicators of vulnerability to FE.
