In response, Yes Bank has blocked e-commerce transactions from the specific Latin American country where the fraudulent transactions were routed. In the country in question, two-factor authentication is not mandatory for online transactions, which the bank has described as a weakness. The incident involved attempted fake transactions on specific card BIN numbers linked to Forex cards issued in partnership with BookMyForex.
Yes Bank Share: Attempt to make fake transaction on prepaid forex card! Bank starts investigation – Stock market in action
