COMPARATIVE STUDY OF FINANCIAL LITERACY BASED ON FRAUD DETECTION OF INDONESIA’S GENERATION Z

• Main Author: Rialdo Davis, Daffa
• Format: Final Project
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/68132
• Institution: Institut Teknologi Bandung

Everyone in the world had to adjust their way of life during the Covid-19 epidemic, since lockdown and quarantine measures were enacted in the majority of countries. As a result, social engagement and communication were forced to take place through the internet. Consequently, as in the case of Indonesia, the number of internet users expanded dramatically over this time period. With an increase in internet users and activity comes an increase in financial fraud. According to this study, financial literacy has an effect on someone's capacity to spot fraud. From investigating through various literature and conducting surveys, Individuals with a high score in both financial knowledge and behavior have a better capacity to identify fraud. According to their groupings, the respondents who had been victims of fraud scored higher in terms of their financial knowledge and skills, followed by those who said they knew if they had been victims of fraud, and those who said they had not been involved in any fraud came in last. This would suggest that those who have fallen victim to fraud become more financially prudent and knowledgeable after they have been made aware of it. The percentage of total respondents who can identify fraud is substantially greater than the percentage of those who are unaware that someone has attempted to deceive them. It might also be claimed that Indonesia's youth generation have financial literacy knowledge and skills. As technology advances, more research with the inclusion of digital literacy may be conducted. This will help people to get understanding of the digital world as well as financial expertise.