Bank Account Cleanup: 124 Million Biometrically Verified Records, Fraud Drops Over 59%

According to the State Bank, currently 100% of payment accounts generating transactions on digital channels have been biometrically authenticated, helping to reduce the number of fraud cases by more than 59%, and accounts related to fraud by 52%.

The State Bank of Vietnam (SBV) said that as of August 15, 2025, the entire banking industry had more than 123.9 million individual customer records (CIFs) collected and biometrically verified (reaching 100% of the total number of individual customer payment accounts generating transactions on digital channels); for institutional customers, biometric information had been verified for more than 1.3 million records (reaching 100% of the total number of institutional customer payment accounts generating transactions on digital channels).

This has had a positive effect on data cleaning, with fraud cases down more than 59% and fraud-related accounts down 52% compared to before biometric information matching was implemented.

The National Credit Information Center (CIC) has coordinated with C06, the Ministry of Public Security to complete 6 rounds of customer data reconciliation and cleaning with about 57 million customer records offline. 63 credit institutions and foreign bank branches have deployed the chip-embedded CCCD card application via counter devices; 57 credit institutions and 39 payment intermediaries have deployed the chip-embedded CCCD card application via Mobile app; 32 credit institutions and 15 payment intermediaries are deploying the VNeID application

Regarding non-cash payments, in the first 7 months of 2025 compared to the same period in 2024, non-cash payment transactions increased by 44.40% in quantity and 25.04% in value; via the Internet channel increased by 49.65% in quantity and 35.61% in value; via mobile phone channel increased by 38.34% in quantity and 21.24% in value; transactions via QR Code increased by 66.73% in quantity and 159.58% in value; via the Interbank Electronic Payment System increased by 4.41% in quantity and 45.27% in value; via the Financial Switching and Electronic Clearing System increased by 15.77% in quantity and 3.77% in value.

In the first 7 months of 2025 compared to the same period in 2024, ATM transactions continued to decrease by 15.83% in quantity and 4.97% in value, showing that people's demand for payment and cash withdrawal is on a downward trend and is being replaced by non-cash payment methods and habits.

Up to now, 32 units have linked with VNeID to serve social security payments; including 28 banks and foreign bank branches (Vietinbank, BIDV, Vietcombank, LPBank, Vikki Bank, MBBank, PvcomBank, HDBank, CoopBank, ShinhanBank, TPBank, NCB, Nam A Bank, KienlongBank, Agribank, BVBank, ACB, MSB, Sacombank, BaoViet Bank, Techcombank,ABBANK , VIB, VPBank, SaigonBank, VietABank, MBV, OCB) and 4 units providing TGTT services (VNPT Money, Mobifone Money, Viettel Money, MOMO).

Source: https://baodautu.vn/clearing-account-of-bank-124-million-ho-so-da-xac-thuc-sinh-trac-hoc-so-vu-lua-dao-giam-hon-59-d379331.html