As of September 1, 2025, Vietnam shut down more than 86 million bank accounts that were deemed inactive or non-compliant with the new biometric rules. Vietnam’s new banking system now requires mandatory biometric authentication for customer account validation, a move initiated by the State Bank of Vietnam. Without digital compliance, these people no longer have access to their own money. This Orwellian move is part of the central bank’s “cashless strategy”, aimed at combating identity theft, fraud, and AI-enabled scams. Moreover, the Vietnamese government has openly committed to eliminating cash entirely by 2030. [Read More]