Vietnam’s banking sector is sounding the alarm as an escalating wave of digital scams threatens customers nationwide. In recent months, major Vietnamese banks—including Techcombank, Agribank, BIDV, and TPBank—have issued urgent warnings about increasingly sophisticated fraud schemes targeting both individual and business clients. The State Bank of Vietnam (SBV) has also stepped up, identifying at least two fake websites impersonating its official electronic information portal and distributing malware designed to steal sensitive information.
According to reporting from Tien Phong, Techcombank has been at the forefront of alerting the public to new scam tactics. Fraudsters have produced forged documents bearing counterfeit stamps and signatures of Techcombank staff and management. They lure victims with plausible-sounding reasons—such as annual fee refunds, credit card limit changes, or requests to update account information—before directing them to fake websites or persuading them to divulge confidential data. Once the scammers have what they need, they swiftly empty the victim’s bank accounts.
But Techcombank is hardly alone. Other leading banks, including Agribank, BIDV, and TPBank, have reported similar incidents involving fraudulent websites. These banks have released public statements confirming that these are, without a doubt, scams. Their advice to customers is unequivocal: never click on suspicious links, never provide card or account information to unverified sources, and never share personal details online unless absolutely certain of the recipient’s identity.
The threat goes beyond just fake emails or phone calls. The SBV’s Information Technology Department recently uncovered at least two websites—https://sbvhn.com and https://state-bank.vercel.app—deliberately designed to mimic the official SBV portal. These sites, which closely replicate the look and content of the legitimate portal, are part of a broader campaign to deceive users. The SBV has issued a strong warning, advising citizens to avoid accessing these sites and to recognize them for what they are: sophisticated fakes.
What’s especially alarming is that these fraudulent sites often prompt users to download APK files—Android application packages—that are laced with malware. According to the SBV, this malicious software can bypass most mobile device security measures, allowing scammers to steal personal data and bank account information right from a victim’s phone. Once installed, the malware can harvest everything from login credentials to transaction histories, making it easy for criminals to siphon off funds or commit further fraud.
To help customers distinguish between genuine and fake online portals, the SBV has reiterated that it operates only one official website: https://sbv.gov.vn. Any other web address, especially those that look suspicious or unfamiliar, should be treated with extreme caution. Commercial banks have echoed this guidance, urging customers to download banking apps exclusively from trusted sources like the Apple App Store or Google Play Store, and never from unofficial links or third-party websites.
Despite these persistent warnings, impersonation scams continue to proliferate. The SBV’s Information Technology Department has been vigilant, monitoring cyberspace and sharing real-time updates with both banks and the public. According to Tien Phong, “the agency discovered at least two websites impersonating the official electronic information portal of the State Bank of Vietnam.” These findings have prompted a wave of public advisories and renewed efforts to educate customers on digital safety.
In response to the growing threat, the banking sector has undertaken a massive initiative to clean up and secure its customer database. By July 1, 2024, Vietnamese banks had completed a comprehensive verification process for all personal and business account holders. This involved cross-checking more than 120.9 million individual customer records and over 1.2 million organizational profiles using biometric data from chip-embedded citizen ID cards or the government’s VNeID digital identification app. The process, which covered every account with digital transaction activity, was designed to standardize customer data and reduce the risk of fraud.
The results have been striking. According to the SBV, since the completion of this biometric verification campaign, the number of personal customers falling victim to scams has dropped by an impressive 59%. Similarly, the number of fraudulent transactions has fallen by 52%. These figures, reported by both Tien Phong and the SBV’s official statements, demonstrate that tighter security measures and better data hygiene can have a tangible impact on reducing financial crime.
By July 4, 2025, the SBV confirmed that the biometric clean-up had reached 100% of all active individual and organizational accounts. This level of thoroughness is rare in global banking and positions Vietnam as a regional leader in digital financial security. The SBV’s Information Technology Department noted, “After a period of cleaning up customer databases and applying biometric verification, the number of individual customers defrauded dropped by 57%, and fraudulent transactions dropped by 47% compared to the same period in 2024.”
Still, the fight is far from over. Cybercriminals are constantly adapting, devising new tricks to bypass even the most robust security measures. One particularly brazen case involved a Chinese national who defrauded victims out of 32.7 million renminbi (about 117 billion VND), according to Tien Phong. Instead of spending the money on himself, he reportedly used the illicit funds to purchase luxury homes and cars for his girlfriend—a reminder that the proceeds of fraud often flow into unexpected channels.
To keep pace with these evolving threats, Vietnamese banks are investing heavily in customer education. Regular alerts, SMS messages, and email campaigns remind clients to be wary of unsolicited contacts, to double-check web addresses, and to avoid downloading apps from unofficial sources. The message is clear: vigilance is everyone’s responsibility.
Meanwhile, the SBV continues to monitor for new phishing sites and malware campaigns. The central bank’s ongoing collaboration with commercial banks and law enforcement agencies aims to shut down fake websites quickly and prosecute those responsible. The hope is that, through a combination of technological innovation and public awareness, the sector can stay one step ahead of the scammers.
For customers, the advice remains simple but critical: trust only official channels, keep personal and banking information private, and report any suspicious activity to your bank immediately. In a digital world where the next scam is just a click away, a little caution can go a long way in protecting your hard-earned savings.
As Vietnam’s banks continue to strengthen their defenses, the country’s experience offers a valuable lesson for the wider region: digital transformation brings opportunity, but also risk—and only through constant vigilance can that risk be managed.
