More than 1.9 million customers stopped their orders after seeing the warning, retaining over 6,300 billion VND. From November 2, 2026, one more bank will enable this feature.

From November 2, 2026, LPBank officially uses the SIMO fraud account monitoring and warning system. When a customer transfers money to an account showing signs of risk, the application will display a warning right on the screen. The State Bank (SBV) has deployed a service to look up the status of accounts and e-wallets suspected of fraud via SIMO since the end of 2025. For each transaction, the application automatically compares the recipient's account with data on the system and immediately notifies customers if there is any suspicion.

From November 2, 2026, LPBank officially uses the SIMO fraud account monitoring and warning system. When customers transfer money, the system compares the recipient's account through the interbank payment system. If the account shows unusual signs or has risk warning information, a notification will appear immediately on the transaction screen. LPBank is not the first bank to do this. The State Bank (SBV) has deployed a service to look up the status of accounts and e-wallets suspected of fraud via SIMO since the end of 2025, and many banks have included this warning in the application.

The bank clearly recommends what to do when you see a warning: pause the transaction, verify the recipient's information, and only continue when you are sure the transaction is accurate and safe.

The Police Department also emphasized the same principle: do not transfer money without accurately verifying the recipient's identity.

What does a red alert mean?

Banks are handling it at two levels. If the recipient account is on the suspect list of the Department of Cyber ​​Security and High-Tech Crime Prevention (A05, Ministry of Public Security), the transaction may be refused or blocked, and the customer cannot forward it. If the account is on the warning list of SIMO or NAPAS, the application will display a risk notice, the customer checks again and then decides to continue or stop.

A warning does not mean the recipient is definitely a scammer. This is a signal based on data and a system risk assessment. SHB also clarified that the information displayed is for support purposes only, does not automatically cause the transaction to be rejected, and the right to decide belongs to the customer.

However, actual data shows that this warning should not be ignored. SBV announced at a press conference on October 7, 2026: as of September 28, 2026, more than 5.6 million customers have received warnings via SIMO. Of which, more than 1.9 million transactions were paused or canceled, with a total amount of over VND 6,300 billion.

Steps to take when you see a warning

These are three pieces of information LPBank recommends that customers check before confirming money transfer.

Step 1: Stop order. Do not click continue. Check the account holder name, account number and beneficiary bank.

Step 2: Verify the recipient. Contact the recipient directly through a channel you know before, asking clearly the purpose of the money. According to the bank's recommendations, you should be especially cautious when requesting money transfers from strangers, or from people pretending to be authorities, banks, or police via phone, text message, or social networks. The police affirmed that when working with citizens, the police agency does not request money transfer over the phone for the reason "for investigation" or "to prove assets".

Step 3: If you have accidentally transferred money, handle it immediately. When detecting signs of being scammed, the Police advise people to immediately stop transferring money and notify the bank. Next, save the messages and transaction documents and go to the nearest commune or ward police station to report.

Be careful not to lose money

Do not give out OTP codes, passwords, PIN codes or login information to anyone. Police also recommend not opening unfamiliar links, not scanning QR codes of unknown origin, and not installing applications according to strangers' instructions.

If a customer reports that your account is showing a warning when they transfer money, contact the bank where the account is opened to ask for clarification. There is currently no confirmation from the State Bank or banks about the complaint process to be removed from the suspect list.

The warning system is continuing to be expanded. The SBV said that SIMO will be used more widely to warn and prevent transactions showing signs of fraud. First, when the screen shows a red warning, stop the order first and verify later.