YES Bank Denies ₹32 Crore Cyber Fraud Allegations, Says No Govt Accounts Were Compromised
YES Bank has rejected a report alleging a $3.4 million cyber fraud involving government accounts. In its Nov 13 clarification, the lender said its systems remained secure, no government accounts were affected and it suffered no financial loss. The bank has challenged the report's accuracy and requested a retraction
Yes Bank |
YES Bank has denied allegations that it suffered a cyber fraud loss of approximately $3.4 million, or ₹32 crore, involving government-linked accounts.
In a clarification issued on Friday, the private sector lender maintained that its banking systems had not been compromised and that no financial loss had occurred.
The statement followed a media report which alleged that a cybersecurity incident had occurred towards the end of October 2026.
The bank rejected the claims as factually incorrect and said they did not reflect the actual position.
"YES BANK remains committed to upholding the highest standards of banking security, operational integrity and customer trust," the bank said in its statement.
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The said report, titled India on High Alert After Alleged $3.4 Million Cyber Loss at YES Bank, raised questions about a possible security breach involving government accounts.
Responding to the allegations, YES Bank categorically stated that no government accounts had been affected.
The lender also denied suffering any monetary loss linked to the reported incident.
According to the bank, the claims concerning its systems and financial exposure were inaccurate.
The clarification was issued to address concerns arising from the report and communicate the bank's position to stakeholders.
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YES Bank said it had contacted the publication to highlight what it described as factual inaccuracies and requested a retraction.
The lender expressed concern that the report could damage its reputation and create unnecessary uncertainty among customers, investors and other stakeholders.
Reaffirming its commitment to banking security, YES Bank said it remained focused on maintaining operational integrity and customer trust.
The clarification comes amid broader concerns about cybersecurity threats facing financial institutions, particularly where sensitive financial information and government-linked accounts are involved.
However, the bank has maintained that the alleged incident did not result in any compromise of its systems or financial losses.
The dispute centres on the accuracy of the published allegations, with YES Bank formally rejecting the reported cyber fraud claims.
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