The BIN, or the Bank Identification Number, is the first six digits on a credit card. These are always tied to the issuing institution – usually a bank. In a BIN attack, fraudsters use these six numbers to algorithmically try to generate all the other legitimate numbers, in the hopes of generating a usable card number.
They then use them test them on various merchants to filter the list down workable accounts. This is known as “A brute force type of attack”. It typically involves thousands of small test transactions to verify valid card numbers.
These small transactions show up as various types of declines, before they ultimately score a correct combination that can be sold on and used for larger scam transactions.
A BIN attack can damage your business in many ways, such as the following:
- Increased disputes or chargebacks
- High decline rates
- Additional fees
- Business reputation impacts
- Regulatory fines.
Please call us. Our support team will take immediate action, investigate the spam orders and fraud problem, clean all malware, injection code, and secure the website.
