Vietnam Securities Accounts Must Complete Identity Verification as Regulator Warns of Scams
Vietnam’s State Securities Commission says securities trading accounts must be linked to and verified against electronic identity accounts. Existing accounts must complete the process before December 31, 2026. Scammers may impersonate securities firms or regulators to obtain passwords, verification codes or control of investors’ devices.
Vietnam’s State Securities Commission reminds investors to complete electronic identity verification for their securities trading accounts as required, while remaining alert to calls, text messages, links and apps from people impersonating securities firms or regulators. Scammers may exploit the verification requirement to steal account information and assets.
Illustration of electronic identity verification and account security for securities accounts.（VietVance）
Under relevant provisions of the Vietnamese government’s Decree No. 69/2024/NĐ-CP, issued on June 25, 2024, and Decree No. 320/2026/NĐ-CP, issued on August 13, 2026, electronic trading accounts on digital platforms in the securities sector must be linked to and verified against electronic identity accounts. Securities accounts opened before the new rules took effect must complete the linking and verification before December 31, 2026.
The regulator says scammers may falsely claim that an account is about to be locked or restricted from trading, pressuring investors to click links, scan QR codes or submit photos of identity documents, passwords, one-time verification codes and facial information through websites and apps of unknown origin. Others may induce investors to install fake apps, share their screens or grant control of their devices to carry out unauthorized transactions or steal personal data.
Investors should verify authentication requirements through their securities firm’s official app, website or published phone number. They should not give passwords, verification codes or other information to strangers, or install remote-control software at their request. Anyone who has disclosed information or notices unusual account activity should contact the securities firm where they opened the account as soon as possible. If funds are at risk, they should also contact the relevant bank or payment provider, change passwords using a secure device, preserve evidence and report the matter to the police.
Source: VietVance
