On Friday, 11th October 2024, the Social Well-being Research Centre (SWRC) at Universiti Malaya hosted a pivotal workshop on the early detection of financial abuse. This event was a key part of a collaborative effort between the Credit Counselling and Debt Management Agency (AKPK) and Universiti Malaya (UM). The workshop, titled “Financial Abuse Early Detection Tool” (FAEDT), aimed to raise awareness and prevent financial abuse among older adults.
AKPK, established under Bank Negara Malaysia’s Financial Sector Master Plan, offers financial advisory services, debt management, and financial education to individuals and Small Medium Enterprises (SMEs). The Financial Education and Well-being Research Centre (FEWRC) at AKPK is developing the FAEDT to equip frontline workers with the skills to identify signs of financial abuse among the elderly during financial transactions. The workshop highlighted the critical role of early detection tools in protecting the financial well-being of older adults and showcased the ongoing efforts of AKPK and UM to enhance financial literacy and protection.
This write-up was prepared by Associate Professor Dr Farizah Mohd Hairi, Department of Social and Preventive Medicine, Faculty of Medicine, Universiti Malaya.
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