PETALING JAYA: Investment literacy programmes should focus on secondary school students so they can learn how to avoid financial scams and get-rich-quick schemes, says an education activist.

Noor Azimah Abdul Rahim, head of the Parent Action Group for Education, said: “Young adults nowadays are susceptible to the influence of so-called financial consultants or scammers promoting get-rich-quick schemes.”

She said these schemes encompass investing in stocks, currency, cryptocurrencies and commodities that lack proper licences or regulatory oversight.

Noor Azimah gave her support to Prime Minister Anwar Ibrahim’s recent call for investment literacy programmes among young people and expanding the awareness campaign into schools.

In May, youth and sports minister Hannah Yeoh said bankruptcy is the most serious problem affecting youths today arising from credit card debts, personal loans and spending before earning.

Noor Azimah said it was important for schoolchildren to learn how to distinguish between legitimate investments and financial scams.

“We could introduce investment literacy to upper secondary schools, as students at that level may have a better capacity to envision and comprehend the concepts,” she said.

Universiti Kebangsaan Malaysia lecturer Anuar Ahmad said the idea of introducing schoolchildren to the concept of investment is a positive step towards fostering greater financial literacy among young adults.

He said children in primary schools are typically exposed to lessons on how savings work through campaigns organised by banks.

“Therefore, at the upper secondary level, we can introduce them to the concept of investment, which will acquaint them with various options,” Anuar said.

He said such initiatives need not be integrated into the school curriculum.

“It can be accomplished through school campaigns organised by banks or extracurricular activities focused on financial literacy,” he said.