Migrant status and consumer financial fraud in China: a two-stage approach

Chinese migrants face socioeconomic disadvantages. Less is known about their vulnerability to consumer financial fraud, which can impede migrants' integration into urban China. This paper uses nationally representative data from 2015 to investigate migrants' risk factors for consumer financial fraud through two stages: fraud exposure and victimization. Results reveal a distinct pattern of fraud risks based on migrant status. Urban migrants are 28.2% more likely to be exposed to fraud than urban local residents, while rural migrants are 57.3% more likely to be fraud victims overall. Recent movers are at even higher risk. Market and digital engagement is a key explaining factor. The results highlight the need for targeted policy interventions to promote inclusive urbanization and rural-urban integration.