Launching as part of Scams Awareness Week, national Indigenous not-for-profit First Nations Foundation has released five new financial literacy modules focused on scams awareness as part of its world-first My Money Dream platform.
My Money Dream is the Foundation’s online financial literacy education platform, which evolved through a successful 10-year face-to-face financial literacy program delivered to First Nations communities. It’s available for Aboriginal and Torres Strait Islander learners to increase good money habits and build financial prosperity, while community leaders can become accredited mentors to deliver the training locally.
The five new modules cover scam basics, keeping your identity safe, common scams, our communities, and the benefits of online banking. Educational content and tips specifically cover three of the most common and costly scams for First Nations people – online dating and romance scams, investment scams, and online shopping scams.
Last year, First Nations Australians lost more than $4.8 million to scams, according to the ACCC – a staggering 142 per cent increase from the year before.
First Nations Foundation CEO, Phil Usher, said the new modules and wider focus on scams by the Foundation reflects this increase in financial crime targeting First Nations peoples.
“Building out culturally relevant scams modules within the My Money Dream framework has been one of our biggest priorities to protect mob, not just from scammers but also large ASX-listed companies alike who target First Nations people because of low financial literacy within the community,” he said.
“As part of our work building financial literacy and economic prosperity, it’s important we raise awareness of these types of scams and how people can protect themselves or get help – while also promoting the benefits of using online platforms to manage money, access education, and stay in touch with community.”
Learners can access the modules for free through sponsored licences provided by organisations and donors. Mentors working in financial counselling, health, education, and other trusted community support services can register for licences and additional resources to bolster financial literacy in a culturally safe format.
For more information on My Money Dream, or to sign up for the platform, please visit https://firstnationsfoundation.org.au/my-money-dream