Yes Bank's multi-currency forex card, in partnership with BookMyForex, is facing criticism after users flagged suspicious international transactions, raising red flags about a possible data leak.
Users took to social media platform X to report unauthorised transactions on their forex cards, primarily in US dollars and Brazilian real. Many also complained that they were unable to access the platform to lock their cards.
One user wrote on X, "Today my forex card hacked. Trying to tell Yes Bank. Everyone says ‘contact that department and give number'… thinking of breaking the card." [sic]
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Another user reported ongoing fraudulent withdrawals, saying, "My Forex card is being used in BRL currency and multiple transactions are happening. Customer support is not reachable. The app also seems to be having troubles. Do look into this immediately."
Responding to the rising complaints, BookMyForex said, "Dear Sir, We understand your concern and assure you that your funds are safe. The issue has been escalated to the card‑issuing bank. Lock your card as a precaution via the app or self‑care portal." [sic]
A BookMyForex spokesperson denied claims of data breach. "There has been no data breach involving BookMyForex systems or customer data. YES Bank observed unusual volumes of false transaction attempts on YES BANK - BookMyForex Multi-Currency Prepaid Forex Cards which resulted in high number of declined transactions."
These transactions, when analysed, were found to originate from a specific country, the spokesperson said, adding that the bank has blocked transactions from this specific country which was identified as the source of all these attempts.
"As a precautionary measure, cards involved in these attempted transactions were also proactively blocked. Customer balances remain fully secure. We continue to closely monitor the situation, working closely with the bank to take necessary steps towards customer protection. We are arranging complimentary replacement cards to ensure uninterrupted access to their forex balances," BookMyForex added.
YES BANK Responds
In a statement, YES BANK confirmed an unusual spike in fraudulent activity involving its Multi‑Currency Prepaid Forex Card, issued in partnership with BookMyForex. The bank stated that its fraud monitoring systems "observed an unusual increase in transaction decline," noting that the unauthorised attempts targeted 'specific BIN numbers only.'
According to the bank, the fraudulent transactions occurred across 15 merchants 'based out of a Latin American country' during the early hours of Feb 24, 2026, between 3:30 AM and 8:30 AM (IST). As the country does not mandate two‑factor authentication for e‑commerce payments, YES BANK said it has "restricted e‑commerce transactions from the specific Latin American country" as a security measure.
The bank said that an internal investigation revealed that transactions 'approximately equivalent to $0.28 million have been approved on behalf of 5000 customers," while "688 unauthorised transaction attempts were declined," safeguarding nearly $0.1 million.
The bank added it is working with the card network to 'ensure that the impacted customers do not face any financial loss,” reaffirming its commitment to “the highest standards of data security and customer protection.”
Earlier in the day, an Economic Times report said cyber attackers seem to have gained access to sensitive card data, including card numbers, expiry dates and CVVs which allows them to execute online transactions without physical card access.
The attackers allegedly first carried out small 'test transactions' to confirm card validity before moving to high‑value purchases, the report said. A significant volume of fraudulent spending was detected in Brazilian real (BRL), a tactic likely aimed at exploiting less‑monitored international merchant channels with weaker KYC enforcement, it added.
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