Unveiling vulnerability: A comprehensive study on financial scam predictors and prevention strategies

About the project

Help combat the negative psychological effects of scams

If you are keen to pursue a career in business and behavioural psychology and motivated to address illegal and unethical behaviours in the industry, the University of South Australia – Australia’s University of Enterprise – is offering a hands-on project-based Doctor of Philosophy within Centre for Markets, Values and Inclusion (CMVI), in partnership The ANZ Bank.

Financial scams have become increasingly prevalent, exploiting technological advancements to target individuals across all demographics. These scams not only result in significant financial losses but also foster a pervasive sense of mistrust within communities, undermining confidence in legitimate financial institutions and digital platforms. 

The psychological impact on victims—ranging from stress and embarrassment to severe mental health issues—further exacerbates the social and economic toll. Financial scams affect individuals across all age groups and genders but with varying degrees of impact. 

The predictors of scam vulnerability and its effect on people’s wellbeing, mental health and trust in the community are largely unknown. The role of technology, government, and industry in protecting people from financial scams is also unclear. 

Our project aims to address critical gaps in understanding financial scams. First, we will identify the predictors of scam vulnerability, including psychological, social, and economic factors that make individuals susceptible to financial scams. 

We will focus on the differential intergenerational impacts and explore how age-related factors, gender, financial literacy, and online behaviours contribute to vulnerability. 

Second, we will evaluate the role of technology, government, and industry in both facilitating and combatting these frauds. Our research may enhance public awareness and education on financial scams, leading to reduced vulnerability across age groups. 

We anticipate that our research will lead to the creation of effective prevention strategies and educational programs through future stakeholder engagement. Our aim is to drive behavioural change and influence policy, ultimately fostering a more informed and resilient society against financial fraud.

You will be based at the CMVI. The Centre combines specialist skills from both academia and industry to guide and deliver a meaningful and translatable research project that informs public and private sector choices and policies. You will join a vibrant and collegial cohort of early career and senior researchers who will help you thrive in your studies. 

What you’ll do

In this project-based research degree, you will undertake high-quality applied research activities, including critical thinking, academic writing, data collection and cleaning, and quantitative and qualitative analyses. We will support you to publish high-quality journal papers and industry reports. 

There will also be opportunities to attend and present your research at workshops and conferences – both nationally and internationally. These activities will hone your communication skills and allow you to start building a professional network. There is also the possibility of an industry internship. 

Where you’ll be based

You will be based within the CMVI. We combine specialist skills and multidisciplinary perspectives to provide a transdisciplinary approach to delivering meaningful research, which informs innovative, evidence-based solutions for a more inclusive and sustainable future.

Our research informs public and private sector choices and policies and addresses global development and governance issues in populations experiencing inequity. We also develop incentives for business and not-for-profits to develop, monitor and report on socially responsible enterprises. Financial Support  

This project is funded for reasonable research expenses. Additionally, a living allowance scholarship of $35,200 (2025 rate) per annum is available to Australian and New Zealand citizens, permanent residents of Australia. Australian Aboriginal and/or Torres Strait Islander applicants will be eligible to receive an increased stipend rate of $52,352 (2025 rate) per annum. A fee-offset or waiver for the standard term of the program is also included for this group. For full terms and benefits of the scholarship please refer to our scholarship information. International applicants will not be eligible to receive the scholarship.

Eligibility and Selection 

This project is open to application from both Domestic and International applicants.

Applicants must meet the eligibility criteria for entrance into a PhD. Additionally applicants must meet the project selection criteria: 

• Good knowledge of qualitative data analysis, including preparing and running surveys, focus groups, interviews, and analysing qualitative data using software like Nvivo. 
• Good knowledge of empirical data analysis, including running software like STATA and good econometric skills to analyse panel and cross-section data (e.g., OLS fixed effects, logit, probit and instrumental variable technique, etc.).
• Advanced skills in conducting a literature review. 
• Good writing and communication skills. 
• Economics, Finance or Psychology-related background (either undergraduate/honours degree or Masters). 
• Some degree of prior experience in research (e.g., thesis writing experience, publications, research assistance work, etc.) 
• Working as a team, including meeting deadlines on time

All applications that meet the eligibility and selection criteria will be considered for this project. A merit selection process will be used to determine the successful candidate.

The successful applicant is expected to study full-time and to be based at our City West Campus in the heart of Adelaide. Note that international students on a student visa will need to study full-time.

Essential Dates 

Applicants are expected to start in a timely fashion upon receipt of an offer. Extended deferral periods are not available. Applications close on Tuesday, 26 November.