The Financial Education Network (FEN) launched the Financial Literacy Month 2022 (FLM2022) at Sasana Kijang, Bank Negara Malaysia (BNM), on 1 October 2022. The FLM2022 is an annual flagship event to enhance the awareness of consumers on key financial issues and improve financial literacy among Malaysians. The FLM2022 will run throughout the month of October 2022.

During the launch of FLM2022, Deputy Governor Jessica Chew highlighted that financial education is critical to the safe and effective use of digital financial services. “The low level of digital financial literacy is deeply concerning. The Financial Capability and Inclusion Demand Side (FCI) 2021 Survey commissioned by BNM revealed that one in three individuals surveyed stated they would be willing to share their bank account passwords or PIN numbers with close friends. This increases the risk of online fraud. It also includes being used knowingly or unknowingly as 'mule accounts’ to perpetrate fraud. Almost two-thirds of individuals surveyed do not pay attention to the security features of a website before they perform online transactions. As a result, individuals are far more likely to be deceived into providing their banking credentials through a fake website that enables scammers to use their information to commit fraud. Using mobile devices and apps inappropriately has also led individuals to fall victim to fraud such as phishing, hacking, and data theft.” Further details of the survey will be published in BNM’s Financial Stability Review 1H2022, due to be released on 5 October 2022.

The nationwide roadshow aims to impart financial awareness and education, especially on digital financial literacy. The initiative will feature engaging activities on strengthening the cyber hygiene of financial consumers and personal financial management talks. The "Sembang dan Sebar" discussions during the roadshow will highlight the latest financial scams modus operandi and the 3S (Spot, Stop and Share) concept to protect the rakyat from financial scams. In addition, the roadshow will drive e-payment awareness and the importance of insurance and takaful, especially the Perlindungan Tenang initiative, which targets the underserved segment. In addition to the nationwide roadshow, FEN members, partners, and strategic collaborators will be conducting various financial education programmes, such as the FLM2022 Exhibition, National Financial Literacy Symposium, financial planning consultation sessions #FINPLAN4U, Financial Literacy Week talk on various topics, including digital financial literacy, scams awareness, and retirement planning, Semak Sebelum di Scam webinar series, InvestSmart® Fest 2022, MyDuitStory 3.0 on #TakNakScam Video Competition, MyMoney&Me and Fun(d) for Life educational programmes. 

During FLM2022, the FEN Mobile coach will also travel to 61 locations throughout the country, from city centres to rural areas. The FEN Mobile coach provides free and independent financial education resources covering personal financial management, digital financial literacy, awareness of financial scams, and advisory services on debt management by AKPK. The public can also get help registering for the e-Central Credit Reference Information System (e-CCRIS) to access credit reports online. Details of the locations can be found at www.fenetwork.my.

For more information on FLM2022 programmes, visit www.fenetwork.my or its social media sites on Facebook at facebook.com/myfenetwork and Instagram at instagram.com/myfenetwork

Financial Education Network
4 October 2022

See also:

Deputy Governor Jessica Chew's Opening Remarks at the launch of Financial Literacy Month 2022

About Financial Education Network (FEN)

Established in November 2016, FEN serves as an inter-agency platform to increase the impact of financial education initiatives and identify new opportunities to elevate financial literacy among Malaysians through greater alignment, closer collaboration and a strong focus on impact assessments. Its members include the Ministry of Education Malaysia, Ministry of Higher Education, Bank Negara Malaysia, Securities Commission Malaysia, Employees Provident Fund, Agensi Kaunseling dan Pengurusan Kredit, Perbadanan Insurans Deposit Malaysia and Permodalan Nasional Berhad.