Colourful booths reminiscent of retro arcade machines caught the eye of Chiong Tze Yu, 13, who pulled his father in to explore the area. Resembling an automated teller machine (ATM), the booth – made by local education platform Eyeyah! – provides a series of interactive...
Colourful booths reminiscent of retro arcade machines caught the eye of Chiong Tze Yu, 13, who pulled his father in to explore the area.
The eye-catching booths were just one part of the digital and financial literacy initiative organised by POSB at the Tzu Chi Humanistic Youth Centre in Yishun on Nov 2. Speaking to the media on the sidelines of the event, Mr Shanmugam said the Government will continue to partner stakeholders such as POSB to educate the public and provide a “shield against scams” for Singaporeans.Victims in Singapore lost a record $385.6 million in the first half of 2024, with the number of cases in the first six months of the year increasing by 16.3 per cent to more than 26,500, compared with the 22,853 cases over the same period in 2023.
The minister added: “Having a good understanding of financial concepts is key to cultivating responsible financial behaviour. From budgeting to planning for retirement, it allows everyone to have better control of their financial future.” She pointed out that this applies even to younger children who may not understand such financial concepts.
K Shanmugam BANKS AND FINANCIAL INSTITUTIONS INTERNET CRIMES AND SCAMS
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