PTSB is warning second-level students to watch out for fraudsters as young people being targeted through social media adverts, highlighting the importance of educating students early.
As thousands of school students plan to attend BTYSTE in the RDS this week, PTSB is taking a proactive step in promoting financial literacy among young students at the BT Young Scientist and Technology Exhibition. The initiative is aimed at raising greater awareness of financial fraud among secondary school students and enhance their wider financial literacy.
In the spirit of the exhibition, PTSB wish to empower the next generation through awareness of social issues that they face and to inspire their curiosity on ways to improve their financial wellbeing. At the event, PTSB will host interactive sessions using games and demonstrations to highlight how easy it is for second-level students to fall victim to fraud through their phones and other devices - and to give them tips on protecting themselves and their parents, grandparents, siblings and friends.
The sessions will help them identify and prevent common financial scams, recognise red flags in phishing attempts and online fraud, and develop essential money management skills. They will showcase innovative tools such as PTSB Protect, a global banking first that can alert users if they receive a text message containing a fraudulent link or block them from accessing a suspicious website on their device.
PTSB will also present a special award at the Exhibition to the project that best highlights the importance of innovation in enhancing financial literacy and addressing societal challenges.
Tom Hayes, PTSB’s Chief Technology Officer, said:
"Financial fraud is evolving and scams are getting more sophisticated and ruthless in targeting teenagers as well as older generations.
That’s why it’s so crucial to empower young people with the tools and the knowledge they need to protect themselves and their families and friends.
Our initiative is about building a generation that is vigilant and backed up by strong levels of financial know-how.
As a proud partner of this year’s BT Young Scientist & Technology Exhibition our team are delighted to demonstrate financial literacy and the value of technology innovation to the future generations"
With recent research from FraudSMART revealing 45% of 18–24-year-olds reported that they, or someone they know, have been approached to use their bank account to transfer money, PTSB is dedicated to enhancing financial knowledge across younger and older age groups and creating secure financial ecosystems. This research has also noted the use of social media ads in targeting young people with fraud attempts.
The BT Young Scientist & Technology Exhibition (BTYSTE) will showcase Science, Technology, Engineering, and Mathematics (STEM) focused ideas from secondary students throughout the weekend. PTSB’s award will go to the project that best showcases practical applications and engages with the community while incorporating sustainable practices. The award will be presented by Tom Hayes on Friday 10 January.
Notes to editor
Research cited in this press release:
