New Delhi, February 26 Yes Bank said on Thursday that it has detected unauthorized transactions amounting to USD 280,000 (Rs 2.5 crore) related to its multi-currency prepaid forex cards.
The unauthorized transactions were carried out by Yes Bank's Multi-Currency Prepaid Forex Card, which was issued in partnership with BookMyForex.
These unauthorized transactions were attempted on specific BIN numbers only, and these fraudulent transactions were carried out on 15 merchants based in a Latin American country, on the early hours of February 24, 2026, Yes Bank said in a regulatory filing.
"The bank's internal investigation has revealed that during the incident period, transactions equivalent to approximately USD 0.28 million (about Rs 2.5 crore) have been approved on behalf of 5,000 customers," it said.
Due to the bank's monitoring and control mechanisms, 688 unauthorized transaction attempts were declined, which resulted in the safeguarding of approximately USD 100,000.
The bank is working with the card network to initiate chargebacks, ensuring that the affected customers do not suffer any financial loss.
As a security measure, the bank has subsequently restricted e-commerce transactions from the specific Latin American country.
The bank said that this came to light following an unusual increase in transaction decline by the bank's fraud monitoring system during the early hours of February 24.
This is the first major issue faced by Yes Bank following the acquisition of a 24.9 per cent stake in it by Sumitomo Mitsui Banking Corporation (SMBC) of Japan for about Rs 16,000 crore.
Following the acquisition, SMBC became the largest shareholder of private sector lender Yes Bank. SMBC appointed Shinichiro Nishino and Rajeev Veeravalli Kannan as non-executive and non-independent directors, effective from September 18.