Victims Of Fraud And Demographics: How Gender And Age Influence Financial Losses And Reporting Trends In Australia

Fraud, committed through the banking system, poses a significant global threat, causing substantial financial losses and impacting individuals differently based on demographic factors. This study investigates the influence of gender and age on financial losses and reporting behaviour, using a dataset of 20,912 fraud cases reported in Australia between 2023 and 2024. Statistical analysis of the dataset reveals distinct patterns: males incur higher monetary losses than females and individuals of other genders, while middle-aged adults (35 – 44) experience the largest financial losses, challenging stereotypes about fraud victimisation. These findings underscore the complex interplay between demographic factors and fraud vulnerability, highlighting policymakers' and banks' need for targeted prevention strategies. Designing multifaceted interventions that address both demographic and contextual factors is crucial for reducing financial harm, improving fraud detection and prevention systems, and aligning with ESG principles by promoting social responsibility.