Bank of Russia, the regulator responsible for the oversight of all financial segments, has stepped up its efforts to inform the public about risks associated with various forms of investment. After latest data showed that due to such scams, the country’s central bank has decided to take somewhat unconventional measures.
The Bank has created a special presentation for pupils in Russian schools. The presentation, whose main function is to set the basis of an elementary financial literacy, also features a warning regarding high-yield investment programs (hiyp).
Kids are advised to stay away from offers of artificially high return on investment, especially when the conditions accompanying such offers are not clear.
The presentation features some basic instructions on how the securities market functions, along with useful web addresses to gain information about the world of finance.
The warning to pupils comes as the Bank of Russia is grappling with a rise of financial pyramids in the country, including a reborn MMM. Amendments to Russia’s Penal Code envisage tougher penalties for architects of such scams, as well as to individuals who present financial pyramids in a positive way and attract clients to them.
To view the Bank of Russia’s financial presentation addressed to Russian pupils, click here.