YES Bank takes strict action against safeguard impacted Multi-Currency Prepaid Forex Card

Mumbai: An unusual surge in transaction decline by the bank’s fraud monitoring system has been observed in the Yes Bank’s Multi-Currency Prepaid Forex Card which were issued in partnership with Book My Forex, a foreign exchange dealer firm. According to banking official sources, these unauthorised transactions were attempted on specific BIN numbers only.

These fraudulent transactions were attempted to be carried out on 15 merchants that are based out of Latin American Country, in the early hours on February 24, 2026, between 3:30 AM and 8:30 AM (IST). Further, the specific country does not mandate two factor authentication for e-commerce transactions.

Therefore, in order to maintain the security measure, the bank has subsequently restricted e-commerce transactions from the specific Latin American Country. During the incident period, the bank has revealed that in the internal investigation carried by the bank has recognize that transactions of approximately equivalent of USD 0.28 MN have been approved on behalf of 5000 customers.

With the bank’s monitoring and controlling mechanism, around 688 unauthorised transaction attempts were declined, which led to safeguarding of approximately equivalent to USD 0.1 MN. The Bank is working with Card Network to raise chargeback to ensure that the impacted customers do not face any financial loss.

With this, the Bank has mentioned that it has been remaining committed to the highest standards of data security and customer protection. The Bank continues to closely monitor the situation and is working with all relevant stakeholders to ensure customer interests are safeguarded.