Vietnam mandates biometric verification for many online transactions

Vietnam mandates biometric verification for many online transactions

State Bank of Vietnam, Hanoi

The State Bank of Vietnam

The State Bank of Vietnam (SBV) has made biometric verification mandatory for online transactions exceeding 10 million dong ($393).

The Vietnamese central bank decided to impose the new rule in December last year to combat fraud and cyber crime, and it took effect from July 1.

Bank customers are now not only required to provide biometric authentication to make online transactions that are over 10 million dong, but also provide verification when they make their first online transactions or when