Vietnam to launch pilot crypto trading platform with Bybit’s technical support
Vietnam’s Ministry of Finance plans to launch a pilot crypto trading platform, with technical assistance from Bybit, as reported by Vietnam Investment Review on 18th April. The platform is designed to create a controlled environment for transparent and secure transactions…
Vietnam allows some banks to have up to 49% foreign ownership
Vietnam’s government said some private banks can increase their foreign ownership to up to 49% from 30% after they took over struggling financial institutions as part of the government’s plan to restructure the banking system.
Vietnam PM wants draft policy on cryptos submitted this month
Prime Minister Pham Minh Chinh has ordered the Ministry of Finance and the State Bank of Vietnam to draft a legal framework on cryptocurrencies within this month.
Vietnam police announce dismantling of $1.2bn money laundering ring
Police in Da Nang say bust is biggest money laundering case ever exposed in the central coastal city.
Customers rush to banks for biometric verification as Jan. 1 deadline nears
In the final weekend before the Jan. 1, 2025, deadline for biometric verification, many customers, especially seniors, rushed to banks instead of completing the process online.
China-based lender AIIB to allocate $5B for Vietnam rail projects
Beijing-based lender Asian Infrastructure Investment Bank (AIIB) will allocate $5 billion in credit with incentive interest rates to fund Vietnam’s key rail projects.
Biometric registration required by Vietnam’s State Bank confuses customers
Bank customers in Vietnam are complaining about facial authentication required for online bank transfers in excess of VND10 million (US$390) by commercial banks with effect from July 1.
Mandatory biometric registration for bank customers makes rocky start
Many bank customers have struggled to make transfers via smartphone apps after biometric data became mandatory to enhance cybersecurity.
Photos hoodwink face recognition tools on banking apps
Banking applications using facial biometric authentication can easily be tricked with photos, as several users have found out.
Extraordinary Vietnam fraud case exposes the inherent vulnerabilities of banks
The financial crisis of 2008 showed just how much the world depends on banks being well run. Since then, regulators have been given new powers to keep some of the biggest institutions on a much shorter leash to stamp out risk, greed…
How deep is Vietnam’s financial rot ?
Death sentence handed to corrupt real estate tycoon who stole $12 billion may not be enough to prevent widespread bank runs.
Vietnam opens trial in $12.5 billion corruption case
Truong My Lan, the head of a Ho Chi Minh City-based real estate firm, faces charges, along with 84 associates and alleged accomplices.
Vietnam property tycoon on trial in $12.5 billion fraud case
A top Vietnamese property tycoon went on trial Tuesday along with dozens of others, accused of embezzling $12.5 billion in the country’s biggest ever fraud case.
The $12.5 billion fraud that has shocked Vietnam
Retired nurse Nga put her life savings into a bond at Vietnam’s SCB bank, but now cannot access her money after being caught up with tens of thousands in a multibillion-dollar scam that has shocked the nation.
Remittances to Vietnam forecast to increase by 4.4% in 2022
International organisations have forecast that the total amount of remittances to Vietnam may increase by 4.4% in 2022 and 3.6-4.5% the following year.
US removes Vietnam from currency monitoring list
Vietnam has been removed from the currency monitoring list by the U.S. Treasury Department.
Vietnam’s anti-graft campaign casts shadow over economy
High-profile detention triggers bank run at Saigon Joint Stock Commercial Bank.
Bank run shows risks from widening Vietnam corruption probes
It was a jarring image for one of the world’s fastest growing economies: Scores of Vietnamese flooded branches of the nation’s fifth-largest bank to pull out their savings amid rumors the lender was tied to a real estate conglomerate under…
Grab rival Be Group gets $60 million loan for Vietnam expansion
Be Group seeks to challenge Grab’s dominance in Vietnam: CEO. Be’s app has been installed on over 20 million mobile devices.
Foreign hackers steal big bucks from big banks in Vietnam
Foreign cyber criminals have infiltrated the server systems of several large Vietnamese banks and stolen a lot of money from customers, according to the Ministry of Public Security.
Vietnamese in Russia worried about economic fallout of western sanctions
Amid the global sanctions against Russia, Khanh An did not know if she should also run to the bank to withdraw money like her friends did.
Vietnam’s metro rail lines lumber toward completion
The travails of the planned metro lines in Hanoi and Ho Chi Minh City offer useful perspective on the role of Chinese development financing.
Cryptocurrency mining rigs back in demand as Bitcoin recovers
After Bitcoin prices increased, cryptocurrency mining has returned with a vengeance, with many buying rigs to mine Bitcoin, Ethereum and others.
US resolves currency dispute with Vietnam
Biden administration deal removes an irritant in relations between the two countries
Vietnam to pilot virtual currency as crypto thrives in gray zone
Central bank instructed to develop blockchain-based digital money
Switzerland supports Vietnam in training bank executives
The State Bank of Vietnam and the Embassy of Switzerland last week signed a bilateral agreement for the new Swiss Bank Executive Training programme (Swiss BET) to help build the capacity of Vietnamese bank executives.