Ying Lei Toh

Supersedes Working Paper 22-36 – Prior Fraud Exposure and Precautionary Credit Market Behavior We focus on two kinds of past experiences with fraud: direct experience with fraud and a “near-miss” experience that increased fraud risk but did not directly lead to fraud.

Ying Lei Toh Senior Economist Ying Lei Toh is a senior economist in the Economic Research Department at the Federal Reserve Bank of Kansas City. Ms. Toh joined the Bank in 2018, after earning her Ph.D. in Ec… !-->

Subscribe Share by: Aditi Routh and Ying Lei Toh Download Article A sizeable share of U.S. consumers has been exposed to financial fraud. According to the 2024 Survey of Household Economics and Decisionmaking (SHED), in 2023, 21 percent of U.S. consumers experienced financial fraud involving their credit cards, bank accounts, or other financial products. Fraud victims often lose money in a fraud incident and may not fully recover the money later, ultimately sustaining fraud losses.