Financial education workshop educates self-protection against financial threats

UTAR Centre for Learning and Teaching (CLT), in collaboration with industry expert Harveston Capital Sdn Bhd, organised a financial education workshop on 21 July 2025 at UTAR Kampar Campus.

With financial scams, such as fake investment schemes, phishing attacks, and fraud through digital financial platforms, becoming increasingly common, the workshop was organised as a response to the issue. It aimed to raise awareness of digital financial literacy among undergraduate students and staff through an interactive Simulation Game-based Learning (SGBL) approach.

Present at the workshop were CLT Chairperson Dr Wei Chooi Yi and Teh Hong Piow Faculty of Business and Finance academics Dr Liew Feng Mei, Dr Chia Mei Si and Dr Khor Saw Chin. Representing Harveston Capital Sdn Bhd were Executive Director Mr Phang Kar Yew, Subang Jaya Branch Director Mr Chin Chee Keong, Sungai Buloh Branch Director Ms Siew Leh Cheng, and Financial Advisor Ms Low Hui Teng.

The workshop enlightened the participants on the common types of financial scams in Malaysia, real cases of digital financial fraud, and practical tips to protect personal finances and investments. Through the SGBL, participants learnt how to identify, avoid, and respond to digital scams while enhancing their understanding of responsible investment decision-making.

The core simulation session began with the introduction of several investment schemes by industry experts Mr Chin, Ms Siew and Ms Low. The investment schemes were a mix of genuine and fraudulent cases, along with some legitimate but high-risk options that could potentially result in total loss. Participants were required to evaluate these investment schemes, determine their credibility and decide whether to invest in them based on a limited budget.

After the decision-making stage, the experts revealed the pre-designed scenarios, which simulated the unpredictability of real-world financial situations. Participants were able to directly experience the impact of these scenarios on their simulated investment outcomes. The experts then explained which schemes were fraudulent, which were legitimate but unsuitable, and the reasoning behind each assessment. This discussion also served as an opportunity to introduce regulatory bodies such as Bank Negara Malaysia and the Securities Commission, highlighting their roles in combating financial scams.

The workshop concluded with a sharing session by Mr Phang, who discussed proper investment practices. He highlighted the importance of defining personal investment objectives, considering both internal and external factors, and understanding realistic return ranges for different portfolios and products.

Feedback from participants was overwhelmingly positive. Many found the game-based approach engaging and more impactful than conventional lectures. They reported gaining a clearer understanding of how scams work, how emotions can influence financial decisions, and how to critically evaluate digital financial services. Many participants highlighted the real-life case studies and professional insights shared by the industry experts as the most valuable part of the session, as they reinforced the importance of digital financial literacy in protecting against scams involving digital financial platforms.

Overall, the workshop successfully achieved its goal of promoting digital financial literacy with a strong focus on scam prevention and fraud awareness. It provided a safe and interactive platform for participants, especially students, to experience realistic financial challenges and strengthen their decision-making skills in a fun, educational setting.