Eliminate 86 million "dead" accounts, dramatically reduce fraud thanks to biometric authentication

The State Bank of Vietnam (SBV) said that in the first 6 months of 2025, the number of individual customers being scammed and losing money decreased by 57%; the number of individual accounts receiving scammed money decreased by 47% compared to the same period in 2024.

On the morning of July 8, the State Bank held a press conference to inform about the results of banking activities in the first 6 months of 2025. According to the State Bank's data, as of June 27, more than 119 million individual customer profiles (CIF) had been compared and updated with biometric information via chip-embedded CCCD or VNeID application (reaching 100% of the total number of personal accounts generating transactions on digital channels).

In addition, more than 1.1 million institutional customer profiles have been biometrically verified (reaching more than 100% of the total number of institutional payment accounts generating transactions on digital channels).

Biometric authentication has contributed to eliminating nearly 86 million “dead” accounts. After a period of cleaning the customer database and applying biometric information matching solutions, compared to the same period in 2024, the number of individual customers who were scammed and lost money decreased by 57%; the number of individual accounts receiving scammed money decreased by 47%.

Mr. Le Anh Dung, Deputy Director of the Payment Department (SBV), said that compared to the same period last year, in the first 5 months of 2025, non-cash payment transactions increased by 45.44% in quantity and 25.21% in value; via the Internet channel increased by 47.09% in quantity and 34.46% in value; via mobile phone channel increased by 39.90% in quantity and 23.22% in value; transactions via QR Code increased by 76.62% in quantity and 179.14% in value; via the Interbank Electronic Payment System increased by 9.99% in quantity and 39.85% in value; via the Financial Switching and Electronic Clearing System increased by 14.33% in quantity and 3.85% in value.

  To date, most basic banking services have been digitized on electronic channels; many banks record over 95% of transactions conducted via digital channels instead of at traditional counters. The increasingly diverse and intelligent digital banking ecosystem brings attractive utilities to customers, from money transfers, bill payments, savings to online loans... right on the phone.

Many basic operations have been 100% digitized (savings deposits, term deposits, opening and using payment accounts, opening bank cards, e-wallets, money transfers, loans...).

To date, nearly 87% of Vietnamese adults have bank accounts; the value of non-cash payments is 25 times GDP.

Recently, the National Credit Information Center (CIC) has coordinated with C06, Ministry of Public Security to complete 6 rounds of customer data reconciliation and cleaning with about 57 million customer records offline. 63 credit institutions 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.

Source: https://baodautu.vn/loai-bo-86-trieu-tai-khoan-chet-giam-manh-lua-dao-nho-xac-thuc-sinh-trac-hoc-d326105.html