Financial fraud is reaching alarming levels, with global losses estimated at 442 billion dollars by 2025. Financial education remains essential for consumer protection.

Financial fraud has reached an unprecedented level both in Romania and globally, with estimated losses of 442 billion dollars by 2025, according to the OECD.

The Deputy President of ASF, Gabriel Avrămescu, emphasized the importance of financial education as the first line of defense against this phenomenon, considering that 70% of jurisdictions have reported an increase in fraud cases. Threats include phishing, identity theft, and false investment schemes.

Cătălin Câmpeanu, Secretary General of ISF, highlighted the role of insurance agencies in consumer financial education, stressing the need for them to be well-prepared.

The OECD meeting dedicated to financial education recently took place in Bucharest, where strategies to combat fraud through education were discussed. Romania, as a member of INFE, benefits from international expertise to develop a national financial education strategy.