Nearly 600,000 accounts were found to be acting suspiciously, and millions of customers received alerts.

As of December 11, 2025, 122 out of 147 units had successfully reported to the State Bank of Vietnam's Information System for managing, monitoring, and preventing fraud in payment activities (SIMO), with a total of 592,000 payment account/e-wallet records showing signs of suspected fraud, deception, or legal violations.

At the same time, the system has provided alerts to 2.13 million customers; of which more than 670,000 transactions were temporarily paused or canceled after receiving the alert, with a total transaction amount exceeding 2.57 trillion VND.

The above figures were released by the Payment Department of the State Bank of Vietnam on the occasion of the unit's 20th anniversary.

The SIMO system, scheduled to be operational from 2025, is a significant milestone in payment monitoring. The system allows credit institutions to immediately block transactions or require authentication/identification before processing online transactions, thereby significantly reducing fraud and protecting customer accounts.

KDTM Payment Chart.jpg — *Results of cashless payments during the period 2019-2024. Source: Payment Department*

According to the Payment Department, after 20 years, non-cash payment transactions have increased approximately 500 times in number and more than 60 times in value compared to 2005.

Between 2015 and 2025, internet transactions are expected to increase approximately 59 times in volume and 21 times in value; mobile transactions are expected to increase approximately 280 times in volume and 600 times in value.

QR code payments only became popular in 2018, but since then they have increased by over 700 times in number and over 400 times in value.

This shows that payment policies not only keep pace with international trends but also demonstrate strong practical effectiveness, creating a significant impetus for the digital economy and inclusive finance.

For the financial switching and electronic clearing system operated by Napas since 2015, the average annual transaction volume and value are projected to increase by over 170% and 180% respectively during the 2018-2025 period.

Mobile banking payment results.jpg — *Results of mobile banking payments during the period 2015-2024. Source: Payment Department*

The period 2017-2025 marks a significant transformation of the digital payment and banking system. Many mechanisms, policies, development directions, and technology applications are leading the way, such as:

Electronic identity verification (eKYC) helps people open payment accounts, e-wallets, and use services entirely online; 24/7 fast payments, QR codes, e-wallets, and mobile banking have become popular and dominant methods in daily transactions; Connecting population data, business data, and anti-money laundering data in the implementation of Project 06.

Furthermore, establishing a digital payment ecosystem and continuing to expand interconnectedness with other sectors such as education , healthcare, transportation, and public services will create a solid foundation for the development of level 4 public services and increasingly vibrant digital economic activities.