Calls are being made for a national framework to tackle increasingly sophisticated financial scams in Fiji, as fraudsters use fake investment platforms, impersonation and artificial intelligence to deceive consumers.
Fijian Competition and Consumer Commission Chief Executive Officer Senikavika Jiuta made the call during the South Pacific Stock Exchange's Ring the Bell for Financial Literacy event, held at the Reserve Bank of Fiji as part of World Investor Week 2026.
The event, themed Staying Ahead of Financial Scams, brought together financial regulators, consumer protection agencies, education leaders and capital market stakeholders to raise awareness of fraudulent investment schemes, digital impersonation and online financial deception, while calling for stronger collective action to protect Fijians from financial scams.
Jiuta stressed the need for stronger cooperation between regulators, financial institutions, telecommunications providers, digital platforms and law enforcement agencies to improve scam prevention, early detection and response.
She urged Fijians to independently verify financial offers, remain cautious of investment schemes promising guaranteed returns and promptly report suspected scams.
SPX Chairperson Nitin Gandhi also called on financial institutions to take a more active role in educating the public about legitimate financial products and services.
Gandhi says one of the most effective ways to combat financial scams is to ensure people understand the regulated financial products available to them and how to access these services.
He warned that scams not only cause financial losses but also undermine public confidence in legitimate financial institutions and investment opportunities.
Gandhi encouraged financial institutions to remain accessible and actively engage in public financial education to help consumers identify fraudulent schemes.
Meanwhile, Permanent Secretary for Education Navin Raj highlighted the importance of equipping young Fijians with practical financial knowledge from an early age.
Raj outlined ongoing efforts to strengthen financial literacy within Fiji's education system, focusing on helping students make informed financial decisions, manage money responsibly and recognise fraudulent schemes.
He also highlighted efforts to integrate emerging technologies, including artificial intelligence, into education to better prepare students for an increasingly digital environment.
Consumer Council of Fiji representative Lusia Rabaka highlighted progress in raising public awareness of financial scams since the launch of the national anti-scam campaign in 2024.
However, Rabaka stressed that continued education and public vigilance remain essential as scammers adopt increasingly sophisticated methods.
She encouraged people to recognise warning signs, verify financial offers and report suspicious activities early.
World Investor Week 2026 highlights the themes of Investor Resilience, Digital Deception and Scam Alert, reflecting the importance of informed financial decision-making and investor protection.
The global Ring the Bell for Financial Literacy initiative is supported by the World Federation of Exchanges and forms part of World Investor Week, an international campaign coordinated by the International Organization of Securities Commissions.
SPX has also reminded the public that legitimate stock market investments do not offer guaranteed returns and warned against anyone promising risk-free profits or pressuring people to make immediate payments.
People can contact SPX through its toll-free number, 1534, to verify information relating to the stock market.
