Development Financial Literacy of the Population in the Digital Economy: the Role of Public Administration

The relevance of this study is driven by the unprecedented growth in bank account frauds against the backdrop of financial services digitalization, which necessitates a review of public administration approaches in this domain. The objective of the study is to identify the interrelation between citizens' level of financial literacy and the effectiveness of state policy measures aimed at protecting their interests. Additionally, it seeks to determine promising directions for governmental activities to ensure a secure financial environment in contemporary Russia. The study analyses the Strategy for Improving Financial Literacy and Developing Financial Culture Until 2030, approved by the Russian Federation Government in 2023, as well as its implementation roadmap. It identifies the need to refine state regulatory measures aimed at combating the rising incidence of financial frauds. The author analyzes the results of researches on the level of financial literacy of Russians conducted by the Central Bank of Russia and the analytical center «National Agency for Financial Research» in 2017–2025. Principal result is the identification of vulnerable groups most susceptible to financial scams. The study identifies the categories of individuals most susceptible to financial fraud (risk groups). The scientific novelty of the findings lies in demonstrating a direct correlation between citizens' level of financial literacy and the effectiveness of existing approach to state regulation. The practical significance of the findings lies in the proposed mechanism of targeted influence on risk groups through the conduct of video consultations by state-owned banks. The recommendations formulated in the article can be included in the implementation roadmap of the Strategy for Improving Financial Literacy and Developing Financial Culture Until 2030.