RBI Summons Yes Bank Executives Over Forex Card Data Breach

• RBI has summoned Yes Bank officials regarding a data breach involving the Yes Bank–BookMyForex multi-currency forex card.
• Card details and CVV numbers of several users were allegedly compromised, prompting RBI to seek a detailed explanation.
• Yes Bank identified fraudulent transactions worth Rs 2.54 crore across 5,000 customers on February 24, involving 15 merchants in a Latin American country.
• The bank blocked 688 unauthorized attempts amounting to Rs 90 lakh and is working on chargebacks to prevent customer losses.
• RBI is investigating the root cause, cybersecurity framework, data storage protocols, and third-party risk management.