The SBV issued Circular No. 50/2024/TT-NHNN, which took effect on January 1, 2025; however, some clauses take effect on January 1, 2026. Although FIDO is on the required list of strong authentication methods, other options like SoftOTP, TokenOTP, e-signature exist. Therefore, many banks still comply with regulations using their existing banking systems. Yubico has been meeting with many banks individually to educate them on the importance of phishing-resistant MFA to protect the banks and their digital banking users. We want to leverage WFIS 2026 in Vietnam to help more financial institutions address their current threats.
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