Although poor deception detection accuracy is thought to be an important risk factor for fraud among older adults, this link has not been explicitly studied. Using a cross-sectional design, older and young adults viewed and made judgments of real, high-stakes truths and lies with financial consequences. Older (vs. young) adults exhibited a greater truth bias when evaluating individuals pleading for help in finding a missing relative, which was associated with greater donations to deceptive pleaders. However, all participants were highly vulnerable to fraud. Future research should consider both risk and protective factors affecting financial fraud across the lifespan.
Keywords: deception detection; fraud; social cognition.