Protecting older consumers in the digital age: a commentary on ChatGPT, helplines and the way to prevent accessible fraud.

Older people are often targeted by fraudsters due to their unique characteristics and vulnerabilities. Being a victim of exploitation can lead to negative emotional and financial consequences. The purpose of this commentary is to present ChatGPT's potential to provide accessible information and support, helping older consumers protect themselves when confronted with exploitation, address the limitations of ChatGPT and propose solutions to overcome these limitations. Integrating tailored human and technological solutions, such as helplines, AI chatbots, and involving older adults in development, is crucial. By providing adequate training and support, the goal of ensuring accessibility for all users can be achieved.

Perceptions of Consumer Fraud and Aging Among Older People and the Judiciary in China.

Systematic research has been conducted on the relationship between aging and consumer fraud victimization. But few empirical studies examine the reality of judicial dispute resolution in consumer fraud against older people from the perspective of older adults and judges in China. Based on 161 court rulings, this qualitative study explores the perceptions of older adults in litigation about their experiences of being defrauded in China, alongside judges' responses. Results reveal that common fraud patterns used by business perpetrators render older individuals more susceptible to fraud. Older plaintiffs strategically frame "old age" in litigation, potentially as a tactical maneuver, while also readily emphasizing the importance of procedural justice. Results further show that judges expressed either negative ageism or age-neutral discourse in response to fraud targeting older individuals. Findings highlight the need to enhance consumer education to prevent fraud and address ageist stereotypes among older people. Findings also highlight the need to encourage Chinese courts to consider individual case specifics, leading to fair judgments and the protection of older individuals from fraud while upholding their rights.

Consumer Fraud: Older People's Perceptions and Experiences.

In view of the growing need to address the rights of older people as consumers, this study captures the perceptions and meanings that older people attribute to their experiences as older consumers, particularly regarding consumer fraud, using qualitative-phenomenological methodology based on semi-structured, open-ended interviews with 16 older consumers in Israel. The findings raise distinctive aspects of their experiences, including physical and cognitive characteristics of aging, social response to aging, and involvement of family members in decision making and support. The study concludes by offering several sociolegal policy recommendations for protecting older consumers, directed to them, their family members, professionals interacting with them, and the legal system.

Compliance with mass marketing solicitation: The role of verbatim and gist processing.

INTRODUCTION: Mass marketing scams threaten financial and personal well-being. Grounded in fuzzy-trace theory, we examined whether verbatim and gist-based risk processing predicts susceptibility to scams and whether such processing can be altered. METHODS: Seven hundred and one participants read a solicitation letter online and indicated willingness to call an "activation number" to claim an alleged $500,000 sweepstakes prize. Participants focused on the solicitation's verbatim details (hypothesized to increase risk-taking) or its broad gist (hypothesized to decrease risk-taking). RESULTS: As expected, measures of verbatim-based processing positively predicted contact intentions, whereas measures of gist-based processing negatively predicted contact intentions. Contrary to hypotheses, experimental conditions did not influence intentions (43% across conditions). Contact intentions were associated with perceptions of low risk, high benefit, and the offer's apparent genuineness, as well as self-reported decision regret, subjective vulnerability to scams, and prior experience falling for scams. CONCLUSIONS: Overall, message perceptions and prior susceptibility, rather than experimental manipulations, mattered in predicting scam susceptibility.

Tricks of the Trade: Motivating Sales Agents to Con Older Adults.

PURPOSE OF THE STUDY: Financial fraud is estimated to cost consumers approximately $50 billion annually. To examine how new hires are trained to engage in fraud, this study analyzed a sales training transcript from Alliance for Mature Americans (Alliance). In 1996, Alliance was charged with using deception and misrepresentation to sell more than $200 million worth of living trusts and annuities to 10,000 older adults in California. DESIGN AND METHODS: Transcribed recordings from a 2-day Alliance sales training seminar were analyzed using NVivo10, coded inductively, and examined to identify emergent themes. RESULTS: Predominant themes were as follows: (a) indoctrination using incentives and neutralization techniques and (b) training on persuasion tactics targeted at older adults. Findings suggest that sales training focuses on establishing the company's legitimacy, normalizing unethical sales practices, and refining trainees' knowledge about how to influence older consumers. IMPLICATIONS: Predatory and fraudulent businesses peddling ill-suited products threaten the economic security of older Americans. Improved insights into sales manipulation strategies can guide the development of protective policies including educational approaches to help older adults detect scams and resist purchasing fraudulent products.

Contrary to Psychological and Popular Opinion, There Is No Compelling Evidence That Older Adults Are Disproportionately Victimized by Consumer Fraud.

According to psychological and popular opinion, older persons are especially susceptible to consumer fraud. Research on cognitive and affective aging reveals age-related changes that could increase the vulnerability of older persons to consumer fraud. However, this research does not show that consumer fraud actually is more prevalent among older persons. In generalizing from laboratory findings of cognitive decline to age differences in the prevalence of consumer fraud, psychologists may underestimate the influence in everyday life of possible protective factors associated with old age, including increased experience and changes in goals, lifestyle, income, as well as purchasing and risk behaviors. We review evidence on the prevalence of consumer fraud and conclude that there is no clear indication that it is more prevalent among older persons. Aggregating across all consumer frauds, there is evidence that consumer fraud is less common among older persons than adults of other ages. This evidence is potentially flawed, however, because of failings inherent in the methodologies. In the absence of irrefutable data, it is premature to conclude that consumer fraud is less prevalent among older adults, but it is also premature to conclude that consumer fraud is more prevalent among older persons, as is assumed in conventional and psychological wisdom.