Project “Plan for the Baltic States to improve digital financial literacy and resilience against financial fraudsters”

The project aims to enhance the digital financial literacy and resilience to financial fraud of the Lithuanian and Latvian populations. It brings together the European Commission, the Organisation for Economic Co-operation and Development (OECD), the central banks of Lithuania and Latvia, and other representatives from the financial and security sectors.

The project seeks to provide and implement an action plan that would encourage behaviours leading to increased financial security, sustainability, and well-being for the population of Latvia and Lithuania. Focus is placed on educating the public on digital financial tools and enhance awareness of risks of fraud, with the objective of improving behaviours and habits to seamlessly weave this knowledge into everyday life.

A quantitative survey on the digital financial literacy of adults was launched under the project. The survey delved deep into the digital financial knowledge, behaviours and attitudes of the Lithuanian and Latvian populations. Additionally, a qualitative study exploring the profiles of financial fraud victims, their experiences, and factors affecting fraud cases will be conducted for the first time in Lithuania and Latvia. The data will be analysed by the OECD and will be used to develop an action plan.

More information is available here.