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WITHDRAWN D2c Trust in Institutions and Financial Well-Being in Mexico: Moderating Effect of Fraud Victimization
Short Description
Fraud victims experience physical, material, and emotional effects that undermine their confidence in their financial skills, weaken their trust in institutions, and deteriorate their well-being. This study aims to analyze the effect of financial fraud victimization on the relationship between trust in institutions and the financial well-being of consumers in Mexico. To this end, several multiple linear regression models are constructed, half including financial fraud victimization as a moderating factor. Results confirm that trust in financial institutions is essential for maintaining and increasing financial well-being. In general, financial fraud negatively impacts financial well-being; this is true for identity theft, Ponzi schemes, and fake prizes, but not for card cloning. On the one hand, frauds such as Ponzi schemes significantly deteriorate the effect of trust on financial well-being. This type of fraud is the most damaging regarding trust and other subjective outcomes. On the other hand, while identity theft and fake prizes also affect this relationship, results suggest that the effect of trust on financial well-being increases. This research contributes to the knowledge of financial well-being, trust in institutions, and fraud victimization. Its results are helpful for policymakers and institutions seeking to protect financial consumers.
Type of presentation
Accepted Oral Presentation