Beating scams
The World Bank published in 2015 the report “Enhancing Financial Capability and Inclusion in the Philippines—a Demand-side assessment.” It was based on a survey conducted in 2014 covering 3,000 respondents in an attempt to profile, understand and compare the financial capabilities of Filipinos. The World Bank defined financial capability as the capacity of individuals to act in their best financial interests given the socio-economic and environmental conditions. Capacity here includes knowledge/literacy, skills, attitudes and behavior with respect to understanding, selecting and using financial services.