350.0K
LD“86 MILLION accounts shut overnight.”
The banks call it fraud prevention.
But the deeper story is about control.
So, what’s happening in Vietnam:
Biometric ID (VNeID) now mandatory to access banking.
VNPT + major banks rolling digital signatures into the app.
Decree 69: every business and even foreigners must use it by mid-2025.
Accounts without compliance? Frozen.
Why it matters globally:
Centralising ID + money creates single points of failure (Vietnam’s credit bureau was already hacked).
Once people accept “scan to spend,” compliance = access.
This is the blueprint for a digital dictatorship.
🇦🇺 And here at home:
Australia is trialing the same rails, Digital ID Act, Austroads’ Digital Trust Service for road tolling, eSafety’s age-verification mandates.
Different names, same outcome: identity-bound access to daily life.
Remember:
Fraud prevention is the excuse.
Infrastructure for control is the reality.
The question is, when it comes knocking on your door will you comply, or will you be already set up to say no?
@ldeights
