Fact check: How many bank accounts were closed by the Bank of Vietnam in 2024 for not meeting biometric requirements?

1. Why the 2024 claim doesn’t match contemporaneous reporting and official timelines

Reporting through late 2024 focuses on biometric rollout, data collection, and fraud reduction, not mass account closures. Mid‑September 2024 reporting states that roughly 38 million bank accounts and nearly 4 million e‑wallets had biometric data collected as part of mandatory verification efforts, and that fraud from fake accounts had fallen sharply — a coverage emphasis on implementation and impact rather than shuttered accounts ^[3]. Other 2024 articles likewise discuss policy changes and upcoming enforcement steps, including suspension rules effective January 1, 2025, but they do not quantify accounts closed in 2024 ^{[1] [2] [7]}. This pattern indicates that the factual record for 2024 lacks any authoritative figure for closures tied to biometric noncompliance.

2. The 86 million figure: large number, later date, different framing

Multiple September 2025 reports state that the SBV or Vietnamese authorities deactivated or closed over 86 million bank accounts during a stricter enforcement phase of biometric ID rules; these articles present the action as part of an accelerated cleanup and digital identity consolidation occurring in 2025 ^{[4] [5] [6]}. The 86 million number appears repeatedly across diverse outlets in that late‑September 2025 window, but those accounts are reported as deactivated in 2025, and some coverage frames the figure as “at risk” or “targeted” rather than immediately and permanently closed. Treating the 86 million as a 2024 statistic therefore misstates both the timing and, in some reports, the operational details of the enforcement.

3. Differences in terminology and who acted — closed, deactivated, suspended

Sources use different verbs — “closed,” “deactivated,” “suspended,” or “at risk” — and that matters: closure implies permanent account termination, deactivation or suspension can be temporary pending compliance. 2024 coverage previews suspension rules from January 1, 2025, when banks were authorized to block accounts with expired IDs or without biometric registration ^[7]. 2025 coverage describes mass deactivations under tightened enforcement; some outlets attribute actions to the State Bank of Vietnam, while others describe actions by commercial banks following SBV directives ^{[4] [5] [6]}. These distinctions affect counts and legal responsibility, and no 2024 source unambiguously reports permanent closures by the SBV that year.

4. Data collection versus enforcement: what was measurable in 2024

By mid‑September 2024, authorities and banks had collected biometric data for tens of millions of accounts, creating a verifiable dataset that journalists could cite ^[3]. Coverage emphasized the decline in fraud (72 percent in one report) and progress toward a unified digital identity. That contrast — measurable biometric enrollment and fraud metrics versus the absence of closure tallies — explains why 2024 reporting does not contain a closure figure: the story then was system build‑out and fraud prevention, not mass account purges ^[3].

5. Cross‑checking sources and possible agendas behind large figures

The 86 million figure appears in multiple 2025 items but did not originate in the 2024 corpus; late‑2025 reporting may reflect the culmination of enforcement actions, retroactive accounting, or aggregation of long‑term “untouched” accounts flagged for closure. Some outlets frame the number to emphasize government stringency or bank sector compliance pressure, which can align with either pro‑regulatory or critical narratives about financial inclusion. Given the variation in verbs and attributions, readers should treat 2025 large‑scale counts as a later enforcement phase, not evidence of 2024 closures ^{[4] [5] [6]}.

6. Bottom line and precise answer to the original question

There is no authoritative evidence that the State Bank of Vietnam closed a specified number of accounts in 2024 for failing biometric requirements; contemporary 2024 sources do not report a closure total ^{[1] [2] [3]}. A large deactivation count — commonly cited as about 86 million accounts — is reported in September 2025 and refers to actions taken or aggregated in 2025, not 2024 ^{[4] [5] [6]}. For an exact, official 2024 closure number you would need a formal SBV statement or regulatory report dated in or covering 2024; none appears in the reviewed set ^{[1] [2]}.

7. What to watch next and how to verify further

To verify any precise closure figure, consult primary documents from the State Bank of Vietnam (press releases or regulatory circulars), year‑end bank supervision reports for 2024, and contemporaneous banking‑sector filings; subsequent audits or SBV summaries issued in 2025 may also reconcile counts across years. When evaluating future claims, check whether outlets cite SBV data, bank aggregate reports, or third‑party estimates, and note the date and verb chosen — closed, deactivated, or suspended — as that materially changes the meaning ^{[7] [4]}.