Mumbai, February 26, 2026: YES Bank (NSE: YESBANK | BSE: 532648) has initiated stringent measures to safeguard customers after detecting unusual transaction patterns on its Multi-Currency Prepaid Forex Cards issued in partnership with BookMyForex.
The bank identified a spike in transaction declines triggered by its fraud monitoring systems, specifically linked to certain BIN numbers. The incident involved attempted unauthorised e-commerce transactions at 15 merchants based in a Latin American country during the early hours of February 24, 2026, between 3:30 AM and 8:30 AM IST.
Fraud Impact and Containment Measures
According to the bank’s internal investigation, transactions amounting to approximately USD 0.28 million were approved during the incident period across nearly 5,000 customers. However, robust monitoring and control systems led to the decline of 688 unauthorised transaction attempts, safeguarding approximately USD 0.1 million.The specific country where the transactions originated does not mandate two-factor authentication for e-commerce payments, increasing vulnerability to fraudulent attempts.
As a precautionary step, YES Bank has:
- Restricted e-commerce transactions originating from the identified Latin American country
- Initiated chargeback processes in coordination with the card network
- Strengthened ongoing monitoring protocols
Commitment to Data Security
YES Bank reiterated its commitment to maintaining the highest standards of data security and customer protection. The bank confirmed that it continues to closely monitor the situation and is coordinating with relevant stakeholders to safeguard customer interests.About YES Bank
YES Bank is a full-service commercial bank headquartered in Mumbai, offering a comprehensive suite of products, services, and digital banking solutions across Retail, MSME, and Corporate segments. The bank operates its brokerage business through its subsidiary YES Securities. It has a pan-India presence, including an International Banking Unit at GIFT City and a Representative Office in Abu Dhabi.Source:
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