A private security guard stands outside a branch of Yes Bank in New Delhi.
| Photo Credit: AINNIE ARIF
YES BANK on Wednesday said fraudsters had conducted unauthorised transactions worth $0.28 million (₹2.55 crore) using its Multi-Currency Prepaid Forex Cards of 5,000 customers.
These cards were issued in partnership with BookMyForex.com
The bank said it came to light after it’s fraud monitoring system declined an unusual increase in transactions conducted overnight at a Latin American country.
“These unauthorised transactions were attempted on specific BIN numbers only,” it said in a statement.
“These fraudulent transactions were 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). The specific country does not mandate two factor authentication for e-commerce transactions,” Yes Bank said.
“As a security measure, the bank has subsequently restricted e-commerce transactions from the specific Latin American Country,” it added.
“The internal investigation by the Bank has revealed that during the incident period transactions approximately equivalent of $0.28 million [₹2.55 crore ] have been approved on behalf of 5,000 customers,” it said.
“Due to the Bank’s monitoring and control mechanisms, 688 unauthorised transaction attempts were declined, which led to safeguarding of approximately equivalent to $ 0.1 million (₹91 lakh),” it added.
The Bank said it is working with Card Network to raise chargeback to ensure that the impacted customers do not face any financial loss.
“The Bank continues to closely monitor the situation and is working with all relevant stakeholders to ensure customer interests are safeguarded,” it said.
Published – February 25, 2026 11:33 pm IST
Source: https://www.thehindu.com/business/yes-bank-reports-unauthorised-transactions-worth-255-crore-involving-its-multi-currency-prepaid-forex-card/article70676964.ece
