YES BANK Detects Fraud Attempts On Multi-Currency Forex Cards

YES BANK has reported an unusual spike in transaction declines on its Multi-Currency Prepaid Forex Cards issued in partnership with BookMyForex. The irregular activity was identified by the bank’s fraud monitoring system, which detected multiple unauthorised transaction attempts linked to specific Bank Identification Numbers (BINs).

The fraudulent attempts occurred during the early hours of February 24, 2026, between 3:30 AM and 8:30 AM IST. The transactions were initiated at 15 merchants based in a Latin American country where two-factor authentication is not mandatory for e-commerce payments.

Impact And Preventive Measures

According to the bank’s internal investigation, transactions equivalent to approximately USD 0.28 million were approved on behalf of around 5,000 customers during the incident window. However, the bank’s monitoring systems successfully declined 688 unauthorised attempts, preventing potential losses of about USD 0.1 million.

As a precautionary measure, YES BANK has restricted e-commerce transactions originating from the specific Latin American country. The bank is also coordinating with the relevant card network partners to initiate chargeback processes to ensure that affected customers do not suffer any financial loss.

Ongoing Monitoring And Customer Protection

YES BANK has reiterated its commitment to maintaining high standards of data security and customer protection. The bank continues to monitor the situation closely and is working with all relevant stakeholders to safeguard customer interests and strengthen preventive controls against similar incidents in the future.

YES BANK Share Price Performance

On February 26, 2026, YES BANK share price (NSE: YESBANK) opened at ₹20.75. At 9:45 AM, the share price of YES BANK was trading at ₹21.17, up by 2.17% on the NSE.

Also Read: YES Bank Targets 1% ROA by FY-End, Eyes Higher Profitability Next Fiscal!

Conclusion

The swift detection and containment of the suspicious transactions highlight the effectiveness of YES BANK’s fraud monitoring mechanisms. While some transactions were processed, the bank’s proactive response and chargeback actions aim to ensure minimal financial impact on customers.

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