RBI Summons Yes Bank After CVV Data Exposure In Forex Card Case

The Reserve Bank of India has called senior officials of Yes Bank to seek details on a data breach linked to the Yes Bank–BookMyForex multi-currency forex card. Card numbers and CVV details of several customers may have been exposed, according to a report of The Economic Times.

The regulator has sought a briefing on the cause of the breach, the sequence of events, and the bank’s cybersecurity controls. It has also asked how sensitive card data was stored, whether encryption protocols were followed, and what containment steps were taken. Yes Bank stated that an internal probe identified fraudulent transactions involving 15 merchants in a Latin American country on February 24. Transactions worth Rs 2.54 crore across 5,000 customers were approved, while 688 unauthorised attempts, worth approximately Rs 90 lakh, were blocked.

BookMyForex stated that its systems were not breached and that it does not store sensitive card data.