According to the State Bank of Vietnam (SBV), 113 million personal bank accounts have been biometrically compared out of a total of 200 million accounts opened nationwide.
Notably, the death of more than 86 million bank accounts that have not been authenticated by biometrics and have not occurred transactions for a long time is considered a measure to clean up the banking account system. The State Bank and related units are continuing to step up efforts to prevent high-tech crimes and financial fraud in the digital environment.
It is expected that the digging of more than 86 million of these accounts will be carried out by commercial banks from September 1, 2025. In fact, some major banks such as BIDV, Vietcombank, Agribank, Techcombank, VPBank... have proactively locked or closed accounts with signs of risk.
The SBV is currently building a common data warehouse for accounts showing signs of fraud to serve the monitoring and warning of unusual transactions. The SBV has drafted a decree to replace Decree 88/2029 on administrative sanctions in the banking and monetary sector with the administrative fine increasing by 4-5 times compared to the present (maximum 200 million VND for the act of leasing and borrowing accounts).
The Ministry of Public Security also proposed to criminally prosecute individuals who lend or borrow bank accounts.
For business accounts, there are currently about 711,000 accounts, accounting for 55% of the organization's bank accounts, whose biometric information of legal representatives has been compared. From July 1, business accounts must also be biometrically authenticated to be allowed to make transactions.
