PREVALENCE OF ELDER FINANCIAL FRAUD AND SCAMS: A SYSTEMATIC REVIEW AND META-ANALYSIS

Elder financial exploitation research to date has largely focused on scenarios occurring within relationships of trust (e.g., family). Little is known about elder financial fraud and scam (EFFS) forms of exploitation perpetrated by strangers, including foundational prevalence knowledge. This paper presents on EFFS prevalence estimation in the United States based on a systematic review and meta-analysis of state- and national-level population-based studies. Systematic review of the literature using multiple screeners/reviewers resulted in 12 eligible studies. To estimate EFFS prevalence, meta-analysis used generalized mixed modeling containing binomial error assumption and a logistic link function, with studies included as levels of a random classification factor. Overall EFFS prevalence (one- to five-year period) was 5.64% (95%CI: 4.04%-7.83%). Sub-analysis on study methodological differences revealed no significant effect on prevalence estimation. This study provides the most valid EFFS prevalence estimate to date, which is a necessary foundational piece for further research on the topic.