The Incremental Effects of Fraud Crime on Suicide Among the Elderly in South Korea's Aging Society

Abstract

Fraud has been steadily increasing in South Korea, with technological advancements in criminal techniques rendering older adults particularly vulnerable. Over the past 5 years, the number of reported fraud victims aged 60 and above has risen by 1.6 times. Given the difficulty of recovering assets lost to fraud, such crimes pose a significant threat to the social and economic security of older adults, with potential repercussions for both physical and mental health, including elevated suicide risk. This study investigated the contribution of fraud to suicide among the older adult population in South Korea, with particular attention to those living alone. Using open data from the National Police Agency (2018-2020) on fraud incidents, matched with demographic statistics from the National Statistical Office, we conducted hierarchical multiple regression analyses. The results revealed a significant positive relationship between fraud victimization and suicide rates among older adults. Moreover, fraud targeting older adults living alone exhibited a distinct and significant effect on suicide rates in this population. These findings highlight fraud as a critical public health issue that drives suicidal tendencies among older adults. We recommend strengthening older adults' capacity for self-protection-particularly in electronic financial transactions-and establishing a private crime damage restoration network to provide comprehensive economic and psychological support for those affected.