Five 'big' banks block online fraudulent transactions

Five major commercial banks including VietinBank, Vietcombank, BIDV, Agribank and MB will simultaneously deploy a feature to warn of fraudulent online transactions.

At the press conference announcing the Digital Transformation of the Banking Industry 2025 event held on May 26, Mr. Pham Anh Tuan - Director of the Payment Department (State Bank) - said that this agency is coordinating with C06, Ministry of Public Security to build a database of accounts suspected of fraud.

Accordingly, from July 2025, all 5 major commercial banks including VietinBank, Vietcombank, BIDV, Agribank and MB will simultaneously deploy the feature to warn of fraudulent transactions.

The State Bank is working with the Ministry of Public Security to build a database of accounts suspected of fraud. Photo: Hong Thanh

For more information, the State Bank leader also said that BIDV has been implementing warnings for suspected fraudulent accounts since April 1, 2025. To date, in less than two months, over 100 billion VND has been withheld (ie not transferred to suspected fraudulent accounts) through the bank's fraud and fraud warnings.

In addition, Vietcombank will also 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.

Also at the press conference, Mr. Pham Anh Tuan added that the State Bank of Vietnam is taking drastic actions to close the "loopholes" in the digital financial ecosystem. A series of new measures have been deployed, including establishing a suspicious account database, monitoring unusual behavior, and especially tightening biometric regulations not only for individuals but also for organizations. This is considered a technological shield to help stifle fraud rings that are infiltrating the banking system.

Mr. Tuan emphasized that digital banking transformation without a solid authentication layer will be a double-edged sword. When criminals are strongly exploiting artificial intelligence to fake and steal information, the banking industry needs a clear legal corridor and an intelligent authentication system to proactively prevent risks, protect users and strengthen trust in the national digital financial system.

Hoang Giang

Source: https://congthuong.vn/nam-ong-lon-ngan-hang-chan-giao-dich-lua-dao-truc-tuyen-389391.html