Biometric KYC as Capital Control

Vietnam is enforcing facial authentication for modest online transfers and shutting accounts that don’t update biometrics, with 86 million of 200 million accounts reportedly at risk. As countries go 'cashless,' identity checks become a switch that can instantly block access to funds, especially for expats and inactive users. — This turns anti‑fraud biometrics into a powerful lever over ordinary economic participation, raising civil‑liberties, inclusion, and governance concerns globally.