Cases that will have to stop electronic banking services from July 1

According to the State Bank's regulations in Circular 17/2024/TT-NHNN, from July 1, 2025, corporate customers are only allowed to withdraw money and make payment transactions by electronic means on their payment accounts after completing the verification of the identity documents and biometric information of the legal representative.

To ensure compliance with this regulation and avoid service disruptions, banks have issued notices recommending that customers update the biometric information of their legal representatives. The update can be done directly on the banking application or at the bank's branches and transaction offices.

Institutional clients will be required to undergo biometric verification to conduct e-banking transactions from July 1, 2025.

Specifically, for institutional customers, authentication must ensure a correct match between the identity documents and the biometric data of the legal representative.

Authentication can be done through biometric data stored on citizen identification cards, electronic identification accounts, or biometric data collected directly in some special cases (such as foreigners, Vietnamese people of unknown nationality).

After July 1, if reconciliation is not completed, corporate customers will not be able to continue using payment and withdrawal services via electronic channels.

Banks recommend that customers should not wait until July 1, 2025 to implement, to avoid system overload or unexpected incidents affecting the financial activities of businesses.

Comparing paper and biometric information is not only a legal requirement but also a measure to help enhance safety and security in electronic transactions.

Previously, from January 1, 2025, bank accounts, e-wallets and securities accounts of individual customers will also be suspended from transactions if biometric information authentication has not been completed.

According to statistics from the State Bank, as of April 11, 2025, the entire banking industry has completed biometric verification for more than 108 million individual customer records through chip-embedded citizen identification cards or VNeID identification applications, equivalent to more than 92% of the total number of individual payment accounts with transactions on digital channels.

For the institutional customer group, there have been over 530,000 profiles authenticated with biometric information, accounting for about 41% of the total number of institutional accounts conducting transactions on the digital platform.

Along with that, about 20.9 million customers using e-wallets have also completed biometric verification with chip-embedded citizen identification cards through the applications of wallet providers, reaching 73.15% of the total number of active e-wallets.

Biometric authentication is one of the most advanced authentication tools today to prevent fraud and cheating in electronic banking transactions. However, in the context of strong development of artificial intelligence (AI) technology, the complexity of deepfake is increasing, making it more difficult for customers to distinguish between real and fake content. Therefore, biometric data can also be more easily forged.

Therefore, experts recommend that people should always be vigilant with their personal data when posting online. Regularly updating passwords and using multi-factor authentication can create an additional layer of security; at the same time, always learn and update information about new fraud trends to prevent fraud...

Source ANTD.VN

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