Agribank blocks more than 91,000 suspicious money transfer transactions

Agribank has paused or canceled more than 91,000 money transfer transactions due to suspected fraud and scams. As of early April 2026, the AgriNotify system—designed to detect and flag suspicious accounts—has logged over 200,000 transaction alerts. Of these, more than 91,000 transfers were paused or canceled, with a total value of over 360 billion VND, helping customers identify risk early and curb unusual transfers. AgriNotify is among the first banks to deploy this solution. It is implemented across multiple channels, including Agribank Plus and eBanking (Mobile Banking, Internet Banking) for internal transfers within the Agribank system and for interbank transfers. Additionally, at teller counters, the system also provides alerts for transfers to accounts opened at Agribank and four banks—BIDV, VietinBank, Vietcombank, and MB. This allows customers to be alerted promptly, not only on apps but also during in-person transactions, helping them exercise caution before completing transfers. According to the State Bank of Vietnam, as of March 23, the SIMO system (an information system to support management, monitoring and prevention of fraud in payment activities) has been deployed to 149 units, including 99 credit institutions and 50 payment intermediaries. It contains over 688,000 records of payment accounts, e-wallets, bank cards, and merchants with suspicious activity indicators. The system has alerted more than 3.5 million customers, with over 1.1 million pauses or cancellations, totaling nearly 4,000 billion VND in value. These figures demonstrate the effectiveness of risk-warning solutions in practice, helping customers identify risks in time, reduce financial losses, and improve safety in the payment process. In the coming period, the State Bank will continue to enhance data collection on payment accounts, e-wallets, cards, and merchants with suspicious indicators and upgrade the infrastructure to expand the ability to query suspicious status for institutions that need it. Banks say that when customers enter recipient information for a transfer, the system automatically cross-checks with authorities' data and the banks' internal data to detect anomalies. If risk is detected, warnings are displayed immediately to help customers decide before completing transfers. Warnings are categorized into three levels: high-risk accounts (on the authorities' warning list); medium-risk accounts (signs of suspicion or abnormalities); and unverified accounts (recipient information does not match the National Population Database).