Memory and executive functioning show differential associations with scam susceptibility in middle to older adulthood

The rising prevalence of financial exploitation among older adults has prompted research on the cognitive mechanisms underlying financial decision making in later life. Prior work has demonstrated a link between cognitive impairment and financial vulnerability. The present study examined the unique contributions of composite measures of memory and executive functioning to scam susceptibility in middle-aged to older adults without dementia.

One hundred and fifty-one participants (age= 68.2 ± 8.0 years, 72.2% female, years of education= 16.4 ± 2.2) completed standard neuropsychological measures from the Uniform Data Set (UDS), Version 3, and the California Verbal Learning Test, Second Edition, and a self-report scam susceptibility measure. Psychometrically robust composite scores, the UDS-M+ and UDS3-EF, were computed to represent memory and executive functioning domains. Linear regression models examined independent associations between UDS-M+ and UDS3-EF performance and scam susceptibility. Nested model comparisons evaluated unique contributions of the UDS-M+ and UDS3-EF when included in a joint model.

Lower UDS-M+ (b= -0.25, 95% CI [-0.45, -0.04], p = .018) and lower UDS3-EF (b= - 0.33, 95% CI [-0.54, -0.12], p = .002) scores were independently associated with greater scam susceptibility after adjusting for age, sex, years of education, and income. However, only UDS3-EF remained significant in a joint model. Post hoc analyses revealed that only memory was associated with scam susceptibility in middle-aged adults whereas only executive functioning was significant in older adults.

These findings highlight the importance of monitoring memory and executive functioning across middle to older adulthood when considering susceptibility to scams.

Research Question(s) or Topic(s): This study evaluated the contributions of memory and executive functioning to scam susceptibility in middle-aged to older adults without dementia using cognitive composite scores and whether these associations differed across middle-aged and older adult groups.Main Findings: After adjusting for age, sex, education, and income, memory (b= -0.25, 95% CI [-0.45, -0.04], p = .018) and executive functioning (b= -0.33, 95% CI [-0.54, -0.12], p = .002) each demonstrated an independent inverse association with scam susceptibility. In a joint model, only executive functioning was associated with scam susceptibility. When comparing age groups, only memory was significant in middle age while only executive functioning was significant in older adults. Study Contributions: These results extend prior research by clarifying the unique contributions of memory and executive functioning to financial vulnerability and suggesting there may be differences in the cognitive processes used for financial decision making across stages of older adulthood.