86 million People to Lose Access to Their Bank Accounts

In a move hailed by officials as a crackdown on crime, Vietnam is set to close more than 86 million bank accounts. The State Bank of Vietnam (SBV) insists the new biometric requirement is a necessary “cleanup” to weed out fraudulent activity and accelerate the nation’s transition to a cashless society. On paper, it sounds like a triumph of security and efficiency. But in reality? It’s a terrifying precedent that asks citizens to trade their financial autonomy for the promise of safety source: https://medium.com/pivx/86-million-people-to-lose-access-to-their-bank-accounts-e58cdda36565?source=rss----430d9242e45e---4