A non-public safety guard stands exterior a Sure Financial institution department in New Delhi. |Photograph offered by: AINNIE ARIF
YES BANK introduced on Wednesday that fraudsters used the multi-currency pay as you go international trade playing cards of 5,000 clients to conduct fraudulent transactions value $280,000 (2.55 billion yen).
These playing cards have been issued in partnership with BookMyForex.com.
The financial institution introduced that the fraud was found after its fraud monitoring system rejected an uncommon enhance in transactions made in the course of the night time in Latin American international locations.
“These fraudulent transactions have been solely tried in opposition to particular BIN numbers,” the corporate stated in a press release.
“These fraudulent transactions have been carried out in opposition to 15 retailers primarily based in Latin American international locations within the early morning hours of February 24, 2026, between 3:30 AM and eight:30 AM IST. Sure international locations don’t require two-factor authentication for e-commerce transactions,” Sure Financial institution stated.
“As a safety measure, the financial institution subsequently restricted e-commerce transactions from sure Latin American international locations,” the financial institution added.
“An inner investigation by the financial institution revealed that roughly $280,000 value of transactions have been authorized on behalf of 5,000 clients in the course of the incident interval,” the financial institution stated.
“The financial institution’s monitoring and management mechanisms rejected 688 fraudulent transaction makes an attempt and guarded quantities value roughly $100,000 (Rs. 9.1 million),” it added.
The financial institution stated it’s working with card networks to extend chargebacks in order that affected clients don’t face monetary losses.
“The financial institution continues to intently monitor the state of affairs and is working with all stakeholders to make sure the pursuits of its clients are protected,” the financial institution stated.
