How aware are you of financial scams? The ability to detect financial scams is a skill everyone needs at this age! Last week, we dived into the heart of One-North, Singapore, to spread awareness of Global Money Week 2024 (GMW) in a unique way. Check out our street interview here: Click Here
What’s Global Money Week 2024?
The OECD promotes policies for economic and social well-being worldwide and plays a pivotal role in Global Money Week by fostering financial literacy and inclusion to empower individuals in navigating financial landscapes. Find out more about GMW here: click here
The Global Money Week 2024 theme, “Protect your money, secure your future”, focuses on safe money management and highlights the importance of adopting a responsible and informed approach to personal finances, by being aware of potential risks in the financial sector and protecting one’s hard-earned money.
Young people are especially likely to fall victim of financial frauds and scams, due to their limited financial literacy and experience.
Our goal? To spread awareness about financial scams and test our scam detection skills with the friendly faces we met. It was a journey filled with learning, laughter, and plenty of surprises.
Why Financial Scam Awareness Matters in Global Money Week 2024?:
In today’s digital age, understanding and identifying financial scams is more crucial than ever. From tricky texts to deepfake videos, scammers are upping their game. That’s why we took to the streets during Global Money Week 2024, armed with challenges to see how savvy people really are about spotting these scams.
Spot the Fake Profile:
We kicked things off with a fun challenge, asking passersby to identify which famous person profiles were scams.
Email and SMS Scam Detection:
Next, we mixed real and scammy emails and texts. The highlight? Seeing how people reacted to an SMS scam that closely mimicked a legitimate situation, like getting an office access message.
Deepfake Video Challenge:
Perhaps the most intriguing test was our deepfake video challenge. We showed Mr Beast that looked incredibly real but were actually engineered to deceive. The task was to identify the fakes urging viewers to click on unsafe links.
Key Takeaways from Global Money Week 2024:
Our adventure revealed some fascinating insights. The most challenging scam to detect? Definitely the SMS scams, especially when they’re cleverly disguised as something you’re expecting. This experience highlighted the importance of being alert and questioning even the messages that seem routine.
Looking Ahead:
While we’re not sure what next year’s Global Money Week theme will be, our enthusiasm for joining and making a difference remains sky-high. Stay tuned as we continue our mission to educate and protect against financial scams.
Conclusion:
Our Global Money Week 2024 escapade in One-North, Singapore, was not just about having fun. It was a crucial step towards building a community that’s alert, informed, and resilient against financial scams.
Join us as we gear up for next year’s activities, and together, let’s make scam detection second nature.
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