tarting this month, banks all across Vietnam will begin deleting over 86,000,000 bank accounts that have not been “verified” under the countries new digital ID scheme.
The State Bank of Vietnam (SBV) are calling it a “system clean-up measure”.
This “clean up” is part of the government’s “digital transformation” plan, a drive to “modernise” the country’s information infrastructure, and more specifically a drive to promote non-cash payments.
Speaking at a press conference promoting “Cashless Day” earlier this year, Pham Anh Tuan, Director of the Payment Department at the SBV called it “a data-cleansing revolution”.
Central to this “revolution” is the new “Decree on Regulations for Electronic Identification and Authentication”, passed in July of 2024 and coming in to force July 1st of this year.
Hellbound and Down 