Vietnam Securities Account Verification Due by Year-End as Regulator Warns of Scams
Vietnam’s State Securities Commission urges investors to link and verify their securities accounts with electronic identity accounts as required, while remaining alert to calls, messages and links impersonating securities firms or regulators. Accounts opened before the rules took effect must be verified by December 31, 2026.
Vietnam’s State Securities Commission reminds investors that electronic identity verification is required for securities trading accounts, but calls, messages and links claiming to offer verification guidance may not be official. Investors should use their securities firm’s official app, website or trading channels and independently check unusual notices.
Illustration of electronic identity verification for securities accounts.（VietVance）
Under Vietnam’s regulations on electronic identification and authentication, 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 relevant rules took effect must complete this process by December 31, 2026. The regulator says the requirement helps confirm traders’ identities and reduce the use of accounts by people other than their owners, but criminals may exploit it by falsely claiming that accounts are about to be locked.
Scammers may pose as securities firm employees, customer service representatives or regulators and ask investors to click links, scan QR codes, submit photos of identity documents, passwords or one-time verification codes, or even complete facial verification on websites or apps of unknown origin. Some also persuade investors to install counterfeit apps or remote-control software or to share their screens. After obtaining login details or control of a device, scammers may make unauthorized trades or steal assets.
The regulator advises investors not to verify their identities through links or phone numbers provided by strangers, or disclose passwords, verification codes or biometric information to others. Anyone who has clicked a suspicious link, installed an unfamiliar app or noticed unusual account activity should contact the securities firm where the account was opened immediately. If funds are at risk, they should contact the relevant bank or payment provider, preserve evidence and report the matter to police.
Source: VietVance
