On April 9, 2026, within the framework of the 2026 ASEAN High-Level Virtual Conferences on Financial and Banking Cooperation hosted by the Philippines, Deputy Governor Nguyen Ngoc Canh of the State Bank of Vietnam (SBV) attended the Dialogue Session between ASEAN Central Bank Governors and Financial Institution CEOs.
Deputy Governor Nguyen Ngoc Canh speaks at the Dialogue Session
At the session, ASEAN Central Bank Governors and Deputy Governors engaged in discussions with CEOs of financial institutions on two key topics: the development of an ASEAN Common Framework for Artificial Intelligence (AI) in the financial sector, and the establishment of an effective ecosystem to combat fraud and scams in the region.
Participants also highlighted the growing prevalence of financial fraud and scams in the digital environment, noting the increasing exploitation of digital ecosystems such as telecommunications networks, social media platforms, messaging applications, and e-commerce channels for fraudulent activities.
Against this backdrop, participants recommended strengthening regional coordination through the development of common principles for AI governance based on a flexible, risk-based approach. They also emphasized the importance of enhancing information sharing, promoting policy dialogue, implementing cross-border pilot initiatives, and strengthening cross-sectoral cooperation in combating fraud. These efforts are expected to improve effectiveness, reinforce trust, and enhance the resilience of the regional financial systems.
Deputy Governor Nguyen Ngoc Canh and other SBV representatives at the Dialogue Session
In his remarks, Deputy Governor Nguyen Ngoc Canh expressed strong support for the development of an ASEAN Common Framework for AI Governance in the financial sector. He emphasized that AI is increasingly being applied in the banking sector, from fraud prevention and anti-money laundering and counter-terrorism financing (AML/CFT) to customer service and decision-making support.
He noted that ASEAN has already established a solid foundation through regional guidelines for AI governance and ethics. Therefore, priority should be given to developing practical implementation guidelines, particularly in the banking sector, where AI applications can have direct impact on customers and financial stability. Vietnam supports a voluntary, risk-based principles framework tailored to specific use cases, rather than a rigid, one-size-fits-all approach.