Biometric authentication reduces fraud by 59%

More than 123.9 million individual customer profiles (CIFs) were collected and biometrically verified, reaching 100% of the total number of individual customer payment accounts generating transactions on digital channels.

According to information from the State Bank of Vietnam (SBV), the agency has directed the entire industry to proactively collect and compare biometric information with the national population database, requiring all personal and organizational payment accounts to have their biometric information compared when registering for transactions on digital channels.

As of August 15, 2025, the entire banking industry had collected and compared biometric information for more than 123.9 million individual customer profiles (CIFs), reaching 100% of the total number of individual customer payment accounts generating transactions on digital channels; for institutional customers, biometric information was compared for more than 1.3 million profiles, reaching 100% of the total number of institutional customer payment accounts generating transactions on digital channels. This has brought positive results in data cleaning, the number of fraud cases decreased by more than 59%, and accounts related to fraud decreased by 52% compared to before the time of biometric information comparison.

Cleaning customer data helps reduce fraud.

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

Regarding non-cash payment results, in the first 7 months of 2025 compared to the same period in 2024, non-cash payment transactions increased by 44.40% in quantity and 25.04% in value; via the Internet channel increased by 49.65% in quantity and 35.61% in value; via mobile phone channel increased by 38.34% in quantity and 21.24% in value; transactions via QR Code increased by 66.73% in quantity and 159.58% in value; via the Interbank Electronic Payment System increased by 4.41% in quantity and 45.27% in value; via the Financial Switching and Electronic Clearing System increased by 15.77% in quantity and 3.77% in value.

Also in the first 7 months of 2025 compared to the same period, ATM transactions continued to decrease by 15.83% in quantity and 4.97% in value, showing that people's demand for payment and cash withdrawal is decreasing and being replaced by non-cash payment methods and habits.

In addition, up to now, 32 units have linked with VNeID to serve social security payments; including 28 banks and foreign bank branches: Vietinbank, BIDV, Vietcombank, LPBank, Vikki Bank, MBBank, PvcomBank, HDBank, CoopBank, ShinhanBank, TPBank, NCB, Nam A Bank, KienlongBank, Agribank, BVBank, ACB,MSB , Sacombank, BaoViet Bank, Techcombank, ABBANK, VIB, VPBank, SaigonBank, VietABank, MBV, OCB) and 4 units providing TGTT services (VNPT Money, Mobifone Money, Viettel Money, MOMO.

cand.com.vn

Source: https://baolaocai.vn/xac-thuc-sinh-trac-hoc-giup-giam-59-vu-lua-dao-post881411.html