Integrating Individual Factors to Construct Recognition Models of Consumer Fraud Victimization

Consumer financial fraud has become a serious problem because it often causes victims to suffer economic, physical, mental, social, and legal harm. Identifying which individuals are more likely to be scammed may mitigate the threat posed by consumer financial fraud. Based on a two-stage conceptual framework, this study integrated various individual factors in a nationwide survey (36,202 participants) to construct fraud exposure recognition (FER) and fraud victimhood recognition (FVR) models by utilizing a machine learning method. The FER model performed well (f1 = 0.727), and model interpretation indicated that migration status, financial status, urbanicity, and age have good predictive effects on fraud exposure in the Chinese context, whereas the FVR model shows a low predictive effect (f1 = 0.565), reminding us to consider more psychological factors in future work. This research provides an important reference for the analysis of individual differences among people vulnerable to consumer fraud.