Vietnam's Police and State Bank Launch Pilot System to Trace and Recover Fraudulent Funds from Online Scams

Vietnam's Ministry of Public Security and State Bank are piloting a system to trace and recover funds from online fraud schemes. Nearly 1,000 online fraud cases were detected in the first half of 2026, with over 668,000 suspicious bank accounts and e-wallets identified. AI-powered attacks are emerging as a new threat to financial security.

Current State of Online Fraud

In the first half of 2026, Vietnamese authorities detected nearly 1,000 online fraud cases. The amount of funds lost through these incidents reached billions of dong. Tracing the flow of fraudulent money became a critical challenge in recovering victims' assets.

The New Tracking System

The Ministry of Public Security and State Bank are piloting a system to trace and recover funds related to fraud schemes. The system aims to:

Detect and trace fund transfers showing signs of illegal activity
Accelerate asset recovery for fraud victims
Minimize financial losses from scams

Currently, the State Bank's monitoring system works with approximately 100 financial institutions operating in Vietnam. Over 668,000 bank accounts and e-wallets have been flagged as showing signs of illegal activity. To date, banks have proactively issued millions of alerts and recovered or frozen billions of dong in fraud-related transfers.

The Growing Threat of AI-Enabled Fraud

A growing concern is how AI technology is making fraud schemes more sophisticated. Previously, detailed analysis of banking systems could take months. Now, using AI, attackers can identify security vulnerabilities much faster.

In 2025, Vietnam recorded approximately 552,000 cyberattacks, with 41% targeting the financial and banking sector. Deepfake and AI-generated content enable scammers to impersonate real people and create highly convincing fraudulent messages.

How to Identify Fraud

Urgency-based messaging: Threats that your account will be locked unless you act immediately
Unusual payment requests: Requests from strangers to transfer money or invest
Requests for personal information: Banks never ask customers for passwords or one-time passwords (OTPs)
Suspicious attachments or links: Attachments or links in suspicious emails
AI-generated videos or audio: Deepfakes impersonating real individuals

Prevention Measures

Enable two-factor authentication: Activate this feature in your banking app if available
Verify suspicious communications: If your bank contacts you, call the official number directly rather than using contact information from the message
Never share passwords or OTPs: Don't give these to anyone, including bank staff
Report suspicious activity immediately: Contact your bank if you notice unusual transactions or receive phishing emails
Stay informed about new scam methods: Fraud tactics are constantly evolving; regularly check official sources for updates

Where to Report Fraud

State Bank of Vietnam: Regulatory oversight of financial institutions
Ministry of Public Security: Investigation of fraud cases
Your bank's customer support: Report fraudulent transactions and seek asset protection assistance
Consumer protection agencies: Support for consumer rights and complaints