Ella Cohn-Schwartz

Financial exploitation (FE) of older adults results in devastating consequences. Studies have highlighted social and cognitive factors as separate risk factors of FE, but few have considered their interactive effect on FE risk. This study examines whether social relationships, cognitive functioning and their interactions are associated with FE experiences in a nationally representative sample of 704 community-dwelling Israeli adults aged 50 or older who were part of the Survey of Health, Ageing and Retirement in Europe (SHARE-Israel) Wave 8. Participants self-reported whether or not they experienced FE over the past 12 months and completed assessments of cognition and social networks. Cognitive tests (word list learning, word list delay, animal fluency, and serial 7s) were z-transformed and combined into a composite score of global cognition. A logistic regression model regressed FE on the presence/absence of children, spouses, other family and friends in networks, global cognition and covariates. Interactions between global cognition and each of the four relationship types were also tested. The presence of children and that of friends in network were associated with lower likelihood of FE group membership. The effect of having friends in network on FE was significant for those with average or above-average global cognition, but not for those with below-average global cognition. Findings suggest that the presence of friends in social networks should not be overlooked as a potentially protective factor for adults aged 50+, especially for those who are cognitively healthy. Preventative programmes may focus on strengthening friendships among older adults at higher FE risk.