Ukraine needs a program of extirpation of financial illiteracy among citizens, head of Banking Control Committee Mykhailo Strelnikov said during a press club meeting on topic "Financial Pyramids: can state protect citizens and financial system?" ForUm correspondent reports.

"The situation with MMM financial pyramid gives precise evidence of this. Two million Ukrainians have suffered from this speculation," the official noted.

In addition, according to him, such structures make a profit on people's desire for a rapid, almost momentary enrichment.

"And in any case, people do not know where to complain if they are cheated and do not understand how the financial estimates go. So the only real way to prevent the "pyramids" is to explain people how these structures operate, as well as financial system in a whole. Any other ways including bans or any punitive measures will not help," Strelnikov summed up.


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