Vietnamese banks implement security updates for digital transactions

Several Vietnamese financial institutions are implementing updates to enhance digital security and combat fraud.

TPBank has announced that starting November 1, 2026, it will cease supporting facial authentication on the TPBank and TPBank Biz apps for iPhone and iPad devices running iOS versions lower than 16.7. This change will restrict certain high-value transactions for users on older operating systems, including transfers or e-wallet top-ups exceeding 10 million VND per transaction (or 20 million VND daily limit), and bill payments exceeding 100 million VND. Other affected actions include first-time logins, password resets, and personal information updates. Users are advised to update to iOS 16.7 or higher to avoid service disruptions.

LPBank is also transitioning its services, discontinuing card-related transactions and features on its old mobile application effective October 4, 2026. Customers are directed to use the LPBank Plus app for continued management of card services, including Apple Pay and debt payments. Additionally, LPBank will stop allowing domestic debit card transfers to other banks via its ATM/CDM network.

Separately, the State Bank of Vietnam reported that the SIMO (System for Information Support, Management, Supervision, and Fraud Prevention) has issued over 5.1 million warnings to customers as of late August 2026. This system has helped nearly 1.7 million users pause or cancel suspicious transactions, totaling over 5.7 trillion VND in value.