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BookMyForex denies a data breach after Yes Bank flagged false transactions on Forex cards. Customer funds are safe; replacement cards are being issued.
Responding to the concerns, BookMyForex denied any breach of its systems and said customer money remains safe.
An online foreign exchange platform, BookMyForex, has denied allegations of a data breach. According to Live Mint report quoting the company’s spokesperson, Yes Bank observed unusually high volumes of false transaction attempts on Yes Bank-BookMyForex Multi-Currency Prepaid Forex Cards, leading to a high number of declined transactions.
In response to the scam, the bank has blocked transactions from that country with the cards involved in these attempted transactions, the report said.
The clarification followed a report by Economic Times highlighting allegedly unauthorised international transactions in US dollars and Brazilian reals. The report, quoting sources familiar with the matter and user complaints circulating on social media, indicated that hackers may have accessed sensitive card information and carried out overseas transactions without the physical cards being used.
Customer funds remain secure
Responding to the concerns, BookMyForex denied any breach of its systems and said customer money remains safe.
“Customer balances remain fully secure. We are closely monitoring the situation and coordinating with our banking partner to take all necessary steps for customer protection. Complimentary replacement cards are being arranged to ensure seamless access to forex balances,” a company spokesperson said to Live Mint.
The LiveMint report also noted that some users claimed they were temporarily unable to log into the platform to block or lock their cards, adding to anxiety around the incident. However, BookMyForex maintained that the issue stemmed from suspicious transaction attempts flagged at the bank’s end, and not from any compromise of its internal systems or customer database.
The development underscores rising fraud risks linked to cross-border prepaid forex cards, especially as global digital transactions grow. While investigations and safeguards continue, the company has reiterated that there has been no data breach and that customer funds remain protected.
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February 25, 2026, 12:06 IST
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