Yes Bank has reported a significant security incident involving its multi-currency prepaid forex cards, uncovering a series of unauthorized transactions originating from Latin America. The breach, detected on **February 24, 2026**, primarily targeted cards issued in partnership with the digital forex platform **BookMyForex**. Incident Details Unauthorized transactions totaling **Rs 2.55 crore** were approved during a five-hour window between **3:30 AM and 8:30 AM IST**. The fraudulent activity was traced to **15 merchants** based in a Latin American country where two-factor authentication for e-commerce is not mandatory. Fraud-monitoring systems flagged an unusual spike in transaction declines across specific bank identification numbers, allowing the bank to block **688 additional attempts**. This swift intervention prevented further potential losses estimated at **Rs 90 lakh**. Customer Impact and Response Approximately **5,000 customers** have been affected by the breach. Yes Bank has since restricted e-commerce transactions originating from the high-risk region to prevent recurring issues. The bank is currently working with BookMyForex to initiate chargebacks, aiming to recover the funds and ensure impacted users are protected from financial loss. BookMyForex has clarified that its own servers and systems remained secure throughout the incident. Market Performance The news coincided with a period of high trading volume for Yes Bank shares. On **February 25, 2026**, the stock closed at **Rs 20.79** on the NSE, marking a daily decline of **2.22%**. Despite this short-term volatility, the bank’s broader financial health remains resilient. Recent **Q3 FY26** results highlighted a **55.4%** year-on-year jump in net profit, reaching **Rs 952 crore**. Sector Outlook Cybersecurity remains a critical focus for the Indian banking sector in **2026**. With global cybercrime damages projected to reach **$10.5 trillion** this year, the Reserve Bank of India (RBI) has reinforced mandates for real-time threat reporting and enhanced third-party risk management. Yes Bank’s recent inclusion in the **NIFTY BANK Index** and its improved **S&P Global ESG score of 79** reflect ongoing efforts to build a more stable and transparent institutional framework amid evolving digital threats.