From July 1st, money transfers must have facial authentication.

According to Decision No. 2345/QD-NHNN dated December 18, 2023 of the GovernorState BankRegarding the implementation of safety and security solutions in online payments and bank card payments, from July 1, all money transfer transactions worth 10 million VND or more must go through biometric authentication for the sender.

Customers who make transactions exceeding the threshold prescribed by the State Bank or make the first transaction when installing or reinstalling the mobile application on a new device will need to add a biometric authentication step using their face.

Specifically, money transfer transactions of over 10 million VND/transaction or under 10 million VND/transaction but the total amount of transactions in a day is from 20 million VND or more, the next transfer in that day must add a facial authentication method.

Transactionstransfer moneyUnder 10 million VND/time or total transaction value not exceeding 20 million VND/day, authenticate with Smart/SMS OTP code as usual, no need for facial authentication.

In addition, according to Article 2 of Decision 2345/QD-NHNN, individual customers must also be biometrically identified before making their first transaction using a banking application (mobile banking) or before making a transaction on a device other than the device they last made the transaction on.

This regulation aims to ensure user safety against increasingly complex fraud, and to prevent cases of lending or renting accounts.

Decision 2345 was issued by the State Bank from December 2023 and will not be implemented until July 2024. This is to create conditions for banks to have more time to prepare facilities, ready to meet new regulations in transactions, to ensure the rights and safety of users.

Biometric authentication helps transactions become safer and more secure by using customers' biometric data that has been authenticated with the Ministry of Public Security to transact, encrypt and protect customers' information against cybercrime risks.

Therefore, people need to install biometrics and authentication before July 1 for safe and uninterrupted transactions.

Steps to set up biometrics and authenticate transactions

Up to now, banks have had specific instructions for customers in registering for biometric authentication.

To install biometrics, people need to prepare a chip-embedded CCCD card and access the "Biometrics Setup" feature on the latest version of the bank's application to install according to the instructions.

Step 1: Select the “Biometric Settings” feature on the bank's mobile application (app).

Step 2: Select the functions and enter the minimum limit that needs to be authenticated by biometrics. In fact, customers can choose a certain limit under 10 million VND if they want to ensure more security for their account.

Step 3: Take a photo of both sides of the chip-attached ID card.

Step 4: Read the information on the CCCD according to the instructions.

Step 5: Take a photo of your face to complete the setup.

In addition, people can also go directly to the transaction points of the bank where they opened their account for installation instructions.

After performing biometric installation, from July 1, if the transaction is subject to authentication according to regulations, people will have to perform 3 steps of biometric authentication transaction on the bank's mobile application (app).

Step 1:Enter transaction information as usual (amount, recipient information, receiving bank...)

Step 2:Applicable to transactions exceeding the threshold prescribed by the State Bank, the application will turn on the phone camera to authenticate the customer's facial image.

Step 3:Enter Smart/SMS OTP code to complete the transaction.

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According to Clause 3, Article 3 of the 2023 Law on Identification, biometrics are physical attributes, unique and stable biological characteristics of a person to identify and distinguish one person from another such as face, fingerprints, iris, etc.
Therefore, biometric data is the unique identification of an individual, no two people are the same, including twins. Currently, biometric information of citizens has been collected and stored by the Ministry of Public Security in the chip-embedded CCCD card of each citizen.