Filipinos, Most Financially Dishonest in Southeast Asia — ROSHI

A study by ROSHI, a fintech firm based in Singapore, revealed that Filipinos have the highest level of financial dishonesty in Southeast Asia.

According to the data, 47% of Filipinos may not provide accurate information about their financial situation.

Among the reasons cited are high overconfidence, present bias—or the tendency to prioritize spending over saving—and the cultural practice of “face-saving.”

Those aged 21 to 34 were found to be the least honest, while individuals aged 50 and above were more financially truthful.

Experts are calling for broader financial education and programs that address the cultural factors contributing to financial dishonesty.