A bank blocked more than 100 billion VND in transfers due to suspected fraud.

This is the result of cooperation between banks and C06, the Ministry of Public Security in cleaning customer data and dealing with the increasing fraud.

At the press conference announcing the Digital Transformation of Banking Industry 2025 event this morning, Mr. Pham Anh Tuan, Director of the Payment Department (State Bank of Vietnam - SBV), said that this agency is coordinating with C06 to build a database of suspected fraudulent accounts. In the coming time, major banks will officially deploy warnings of suspected fraudulent accounts to money transferrs.

Mr. Tuan said that the warning of suspected fraudulent accounts has been implemented by BIDV Bank since April 1, 2025. Up to now, in less than two months, more than 100 billion VND has been withheld (ie not transferred to suspected fraudulent accounts) through the bank's fraud and fraud warning.

“ If widely deployed throughout the banking industry, it will help people feel more secure ,” said Mr. Pham Anh Tuan.

Mr. Pham Anh Tuan - Director of Payment Department, State Bank of Vietnam. (Photo: State Bank of Vietnam).

Mr. Tuan added that Vietcombank will deploy this feature from June 30. On July 4, VietinBank will deploy it on VietinBank iPay. MB Bank, after an effective testing period, will officially deploy it from July 14. Agribank will also officially deploy it from July 24.

When transferring money online, if the recipient's account is on the bank's "blacklist", the sender will receive a notification that the recipient's account status is suspected of fraud.

“ At that time, the sender will be the one to decide whether to continue the transfer or not. If not, the system will stop the transaction; if the transfer is still made, the sender will have to take full responsibility after being warned by the bank ,” said Mr. Tuan.

However, this list must be updated regularly, ensuring timely removal of verified accounts that are no longer fraudulent. Avoid the case where after verifying and reconciling accounts, there is no longer any suspicion of fraud but the account is still "imprisoned" in the suspect list, causing damage to customers.

Circular 17 of the State Bank of Vietnam regulating the opening of payment accounts takes effect from July 1, 2024. Accordingly, in order to be able to transact online, account holders are required to compare their biometrics with the national population database.

For institutional customers, the above regulation takes effect from July 1, 2025. Currently, about 55% of institutional accounts perform biometric data comparison of legal representatives.

The leader of the Payment Department added that the State Bank is drafting a circular amending and supplementing Circular 17, which is expected to take effect this year. A significant change is that the State Bank will further tighten its grip on payment accounts of organizations.

Specifically, businesses and organizations will be required to open payment accounts at the counter. Any form of account opening by mail or authorization for someone to bring documents is not accepted.

The new circular also requires the collection of biometric information of all individuals and organizations when opening accounts to ensure that the transaction account is owned by the owner, using technology to compare biometric information.

The State Bank also revised regulations for newly established organizational accounts within 6 months (or 9 months), when these organizations conduct online transactions, they must verify biometric information similar to individual customers.

“ The amendment only focuses on institutional customers, but business activities are like individual business households, avoiding affecting listed enterprises and large enterprises ,” Mr. Tuan noted.

(Source: Vietnamnet)

Link: https://vietnamnet.vn/mot-ngan-hang-chan-hon-100-ty-dong-chuyen-di-vi-nghi-ngo-gian-lan-2404885.html

Source: https://vtcnews.vn/mot-ngan-hang-chan-hon-100-ty-dong-chuyen-di-vi-nghi-ngo-gian-lan-ar945277.html