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Romance Scam Research Center

2019: ES: Financial Fraud, Mental Health, and Quality of Life: A Study on the Population of the City of Madrid, Spain

Sarriá, Encarnación; Recio, Patricia; Rico, Ana; Díaz-Olalla, Manuel; Sanz-Barbero, Belén; et al.  International Journal of Environmental Research and Public Health; Basel Vol. 16, Iss. 18, (2019). DOI:10.3390/ijerph16183276

Abstract: "A recent small study in Spain reported that people who lost their savings in preferred shares fraud and people who had signed foreign exchange home loans had worse physical and mental health, and a poorer quality of life than the reference general population [11]. Using data on the adult population in Madrid, the objective of this research was to compare the prevalence of psychological distress and levels of quality of life after having been exposed to financial fraud. Around 87% of the population of Madrid have both landlines and cellular numbers, and 10% have exclusively cellular numbers. [...]the sampling scheme was originally designed to recruit 50% of the sample by landline and 50% by cellular number. The list was composed of the most frequent fraudulent financial products, including credit (abusive mortgages, foreign exchange home loans, home eviction due to unpaid mortgages, floor clauses, revolving credit) and savings (preferred shares, bank shares, and investment fund fraud), and a last option of “others”, such as those related to undue commissions on payments or excessive insurance charges or poor banking practices, which usually involve small amounts of money."

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