Yes Bank Detects $280,000 Forex Card Fraud Attempt; 5,000 Customers Impacted
Business
According to the bank’s fraud monitoring system, the Multi-Currency Prepaid Forex Card offered by Yes Bank in collaboration with BookMyForex had an extraordinary rise in transaction declines. Only specific BIN numbers were used to attempt these unauthorized transactions. Early on February 24, 2026, between 3:30 AM and 8:30 AM (IST), these fraudulent transactions were carried out against 15 Latin American-based merchants.
The specific country does not mandate two-factor authentication for e-commerce transactions. As a security measure, Yes Bank has subsequently restricted e-commerce transactions from a specific Latin American Country.
According to the bank’s internal investigation, transactions totalling around USD 0.28 million were authorized on behalf of 5000 customers during the occurrence period. 688 unauthorized transaction attempts were denied as a result of the bank’s monitoring and control procedures, safeguarding around USD 0.1 million. In order to prevent any financial loss for the impacted customers, the bank is collaborating with the card network to foster more chargebacks.
Yes Bank said it remains committed to the highest standards of data security and customer protection and continues to closely monitor the situation and is working with all relevant stakeholders to ensure customer interests are safeguarded.
Your international vacation will be completely hassle-free and convenient with the YES BANK VISA Multi Currency Travel Card (VISA MCTC), a prepaid travel card denominated in foreign currencies that can be filled with different currencies on a single card. In India, you may pay in Indian rupees for topping up this pre-paid card with foreign currency. You can then use it to swipe at shops and get cash in local currency from ATMs that accept Visa cards.
YES BANK VISA Multi Currency Travel Card (VISA MCTC) can be loaded with world’s top 10 major currencies; 1. United States Dollar (USD) 2.Great Britain Pound (GBP) 3. Euro (EUR) 4. Canadian Dollar (CAD) 5. Australian Dollar (AUD) 6. Singapore Dollar (SGD) 7. Arab Emirates Dirham (AED) 8. Japanese Yen (JPY) 9. Saudi Riyal (SAR) 10. Thai Baht (THB).
With its Multi-Currency Forex Card, BookMyForex (a MakeMyTrip Group Company), India’s first ICT initiative and market leader in the online retail forex arena, works with YES BANK to make foreign currency payments easier. The Visa-powered BookMyForex YES BANK Multi-Currency Prepaid Forex card emerged in partnership with YES BANK and M2P.
The forex card, which has zero issuance, load, reload, or annual fees and is accepted worldwide, is designed to empower tourists from other countries. It also provides interbank-linked forex rates for 14 currencies. It provides rapid digital reloads and an excellent card administration experience, and it is supported by a mobile app. The BookMyForex website or app makes it easy to buy the forex card online, and it is delivered the same day in major Indian cities.