From Trust to Fraud: Exploring the Psychological Pathways of Currency Exchange Scams Among Chinese Students in Thailand

Abstract

With the acceleration of globalization, more and more Chinese students choose to study overseas, but the complexity of cross-border financial transactions and the unfamiliar legal system make them a high-risk group of transnational fraud. This study takes Chinese students in Thailand as a case, and uses the theory of information asymmetry, trust theory, anticipation confirmation theory and limited rationality theory to analyze the reasons why overseas students are easily deceived. The findings are as follows: Information asymmetry enables scammers to take advantage of victims' lack of knowledge of the law and banking system to commit "legal" forms of fraud; Shared cultural backgrounds and social networks foster trust in scammers; Small successful transactions further reinforce the victim's sense of security; Emotions and time pressures limit the victim's ability to make rational judgments. The purpose of this study is to reveal the key mechanisms of transnational fraud, and to provide reference for enhancing international students' legal and financial awareness and formulating prevention strategies.