KienlongBank implements new fraud prevention and transaction blocking features

KienlongBank has announced the launch of a new risk warning feature, effective August 17, 2026, designed to combat increasingly sophisticated high-tech fraud in Vietnam. The system will automatically warn users or block transactions if the recipient account shows signs of fraudulent activity. This initiative is part of a broader digital transformation plan by the State Bank of Vietnam and utilizes the SIMO247 platform to share information regarding suspicious accounts.

The system operates on two levels: for low-risk or monitored accounts, users receive a warning but can still choose to proceed; for accounts verified as high-risk or linked to fraud, the bank will proactively refuse to process the transaction.

In a related development, authorities in Ninh Binh have issued warnings regarding the illegal sale, rental, or lending of bank accounts. Criminal organizations, including drug traffickers, are increasingly using such accounts to hide money trails. Individuals who provide their accounts to others risk being investigated by police if those accounts are used in criminal activities.