Financial Literacy and Investment Scam
Discover how financial literacy can protect you from investment scams. Learn about real fraud cases, the rise of retail investors, and why financial education is crucial for safeguarding your money.
QUANTITATIVE RESEARCH
Realyn Manalo
3/10/20253 min read
In today's fast-paced world, where investment opportunities are increasingly accessible through both traditional and digital platforms, financial literacy has become more vital than ever. Despite the wealth of resources available, many individuals remain vulnerable due to a limited understanding of basic investment principles. This vulnerability has given rise to a surge in financial scams, with devastating consequences. A stark reminder of this was the incident in Biñan, Laguna, where teachers collectively lost nearly 500 million pesos to a fake cosmetics and skincare investment scheme. Such events not only devastate individual finances but also erode public trust in legitimate investment avenues. Recognizing the severity of this issue, Philippine leaders like Senator Win Gatchalian have intensified efforts to promote financial education, emphasizing the need to equip citizens with the knowledge to safeguard their assets and recognize fraudulent schemes.
Who Can Use These Topics?
These research topics are ideal for students and professionals pursuing:
College Programs:
Business Administration (Major in Financial Management)
BS Accountancy
BS Economics
BA Psychology
Senior High School Strands:
Accountancy, Business, and Management (ABM)
Humanities and Social Sciences (HUMSS)
General Academic Strand (GAS)
Why This Topic Needs Research
Financial scams continue to evolve in complexity, but research has not always kept pace. Several critical knowledge gaps remain:
Limited understanding of how financial skills change over time: Hancock et al. (2025) showed that higher financial knowledge reduced scam susceptibility among older adults, but future research must examine how these skills evolve and how sustained interventions protect individuals long-term.
Psychological manipulation tactics in digital scams remain underexplored: Akhtar and Musah (2025) emphasized digital literacy’s role in preventing digital asset scams, yet they did not assess how customized financial education could counteract fraudsters’ psychological tactics.
Overconfidence and cultural factors were insufficiently examined: Ahmad (2025) highlighted that financial literacy alone does not fully protect individuals due to bias-induced gullibility but did not investigate the effects of overconfidence and cultural influences on scam vulnerability.
Demographic influences on program effectiveness were understudied: Umar and Dalimunthe (2024) identified the role of digital and financial literacy in scam awareness among students but left unexplored how factors like age, gender, and educational background moderate program success.
Generational tailoring of financial education needs deeper investigation: Patiu et al. (2025) found that financial literacy moderated biases among Gen Y and Gen Z investors but did not explore how tailored education interventions could better address unique generational behaviors.
Long-term psychological impacts of victimization were overlooked: Mahomas and Ladra (2025) captured the immediate emotional and financial effects of pyramid schemes but did not study how scams affect future decision-making resilience among victims.
Effectiveness of targeted fraud detection training remains unclear: Tanglao et al. (2024) linked financial knowledge to improved scam detection among students, yet specific educational strategies that address emotional biases and enhance long-term fraud resistance were not thoroughly investigated.
Feasibility & Challenges by Target Group
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References
Ahmad, Z. (2025). Investment scams: the effect of bias-induced gullibility on victimization propensity. Crime, Law and Social Change, 83(1), 1-29.
Akhtar, S., & Musah, M. (2025). Digital Asset Scams and Financial Crime: How Convicted Fraudsters Manipulate the System.
Hancock, D. W., Czaja, S., & Beach, S. (2025). Understanding Financial Exploitation Among Older Adults: The Role of Financial Skills, Scam Susceptibility, and Demographic Factors. Sage Open Aging, 11, 30495334251327509.
Mahomas, D. M. T., & Ladra, F. L. G. (2025). The Lived Experiences of victims of Pyramiding schemes.
Patiu, L. S., Ang, L. K. C., Masanque, J. A. A., Nacario, J. M. C., & Paguntalan, R. M. M. (2025). Unraveling the Investment Puzzle: Do Behavioral Biases and Financial Literacy Matter?.
Tanglao, J. M., Reyes, N. A. M., Aguilar, J. G., Aguilar, J. J. T., & Perez, J. M. G. (2024). A Study of Financial Behavior and Factors Affecting the Investment Decision Among Business Students in Mabalacat City College.
Umar, S. O., & Dalimunthe, Z. (2024). Financial literacy and digital literacy to awareness of investment scams among Indonesian college students. Eduvest-Journal of Universal Studies, 4(8), 7215-7227.