according to Vietnamese state media, more than 86 million bank accounts in Vietnam are set to be terminated starting September 1 because they have not been biometrically authenticated or have been inactive (“frozen”) for a long time.
Authorities say the move is aimed at preventing fraud and cybercrime, and it’s part of a broader push to link all bank accounts to the country’s national digital ID system. Accounts without the required biometric verification — such as facial recognition or fingerprint data — will be closed if customers don’t update their information in time.
This is a massive change, given Vietnam’s population is around 100 million, meaning the policy could affect the majority of account holders unless they comply.
Is this the start ?? Will Australia also at some point have the same rules??
