Vietnam central bank tightens payment system risk controls

The State Bank of Vietnam’s Payment Department, led by Pham Anh Tuan, announced a new data‑synchronisation mechanism to quickly identify, warn and block accounts showing signs of risk. At a conference in Ninh Binh on 12 June 2026, officials highlighted a 36.02% rise in non‑cash transactions in the first four months of 2026, underscoring rapid adoption of digital payments and the growing threat from high‑tech fraud.

Key measures include linking citizen‑identification data (VNeID) to clean the account registry – about 161.2 million records have been cross‑checked, while roughly 25 million card accounts still lack biometric verification. Recent circulars (18/2024 and the amended 45/2025) tighten legal and supervisory frameworks for card issuance and payment services. The central bank urges banks, payment intermediaries and NAPAS to share risk alerts and coordinate surveillance to curb fraud, money‑laundering and other illicit flows.