Digital ID: Vietnam to Delete 86 MILLION “Unverified” Bank Accounts
Read with caution - this story is only being covered by one news source that has a ‘low factuality’ rating, which means the outlet has a history of poor reporting practices. Learn more about factuality ratings here.4 Articles
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Digital ID: Vietnam to delete 86 MILLION “unverified” bank accounts
Starting this month, banks all across Vietnam will begin deleting over 86,000,000 bank accounts that have not been “verified” under the countries new digital ID scheme. The State Bank of Vietnam (SBV) are calling it a “system clean-up measure”. This “clean up” is part of the government’s “digital transformation” plan, a drive to “modernise” the country’s information infrastructure, and more specifically a drive to promote non-cash payments. Spea…
Starting September 1, 2025, Vietnamese banks will close inactive accounts or those that don't comply with new biometric authentication regulations, putting approximately 86 million accounts at risk. Strict transaction thresholds will also be implemented: online transfers exceeding VND10 million will require facial recognition, while daily transactions exceeding VND20 million will require biometric authentication. The new policy aims to combat fr…
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slashdot.orgVietnam Shuts Down Millions of Bank Accounts Over Biometric Rules
Longtime Slashdot reader schwit1 shares a report from ICO Bench: As of September 1, 2025, banks across Vietnam are closing accounts deemed inactive or non-compliant with new biometric rules. Authorities estimate that more than 86 million accounts out of roughly 200 million are at risk if users fail to update their identity verification. The State Bank of Vietnam has also introduced stricter thresholds for transactions: - Facial authentication is…
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