Central Bank of Latvia develops Latvia and Lithuania action plan to strengthen digital financial literacy and fraud resilience

The Central Bank of Latvia announced that it is developing, with the Central Bank of Lithuania, the Organisation for Economic Co-operation and Development and the European Commission under an EU Technical Support Instrument project, an action plan to raise digital financial literacy in Latvia and Lithuania and improve public resilience to financial fraud. Research conducted within the project found that 27% of Latvian adults had been victims of financial fraud in the two years before the survey, while in Lithuania 44% had experienced fraud. In Latvia, the most common fraud types were purchase fraud at 15%, phishing at 8%, investment fraud at 6.5% and unauthorised transactions at 5.6%. The project also highlighted underreporting, with 37% of Latvian victims not reporting the fraud and lost funds. At a 24 April 2026 workshop hosted by the Central Bank of Latvia, the OECD, the State Police and the Finance Latvia Association presented findings on fraud exposure, the public's ability to recognise fraud, digital literacy, digital financial literacy and the use of digital financial products. Latvia's digital financial literacy score reached 58 out of 100, up 10 points from 2023, and stakeholders from the financial and security sectors and at-risk population groups contributed targeted initiatives for the action plan. The project will conclude in November 2026, when the research results and the action plan will be presented to the public.