BIN Attacks: A New Form Of Credit Card Fraud
Especially around the holidays, people are hastening to retail stores and ecommerce websites with stolen credit cards and seeing how much loot they can buy before they get caught. Likewise, banks are on high alert for fraudulent charges. You have probably gotten some texts or emails this season that were obviously scams, some messages from banks asking you to verify whether a transaction was fraudulent or whether you had authorized it, and perhaps even some communications that you were not sure in which of those categories they belonged. It is no surprise that credit card fraud is on the rise. As technology advances, new forms of credit card fraud continue to arise, and so do forensic techniques for detecting them. If you get accused of credit card fraud, you have the right to present defenses in an effort to establish doubt about your guilt, but to be effective, your defenses must be specific to the details of the prosecution’s case against you. If you get accused of orchestrating a BIN attack or participating in any other kind of credit card fraud, contact a Tampa white collar crime lawyer.
How Do BIN Attacks Happen?
BIN attacks are a type of credit card fraud that law enforcement has only detected within the past two years. The bank identification number (BIN) is the first six digits of a credit card or debit card number. A credit card number is the six-digit BIN followed by ten digits which are unique to that card.
New artificial intelligence algorithms can enter numbers quickly in an effort to guess credit card numbers on payment websites. Guessing 16-digit credit card numbers from scratch is an inefficient and time-consuming process, even for quick-witted fraud bots. The most recent generation of bots has figured out how to guess a BIN, and once they find a valid BIN, they are only ten digits away from landing on a valid credit card number with which they can make fraudulent transactions. Banks flag most attempted BIN attack transactions, but occasionally the transactions go through and result in charges posted to the cardholder’s account.
How to Defend Yourself Against Accusations of a BIN Attack
Charges of credit card fraud apply if the state can prove that you made a transaction with someone else’s credit card information without the cardholder’s consent. In order to do this, they must show how you got the credit card information and where you entered it to complete the transaction. If the charges are for conspiracy, the state must be specific about your contributions to the alleged conspiracy. If you can establish reasonable doubt about any element of the prosecution’s case against you, you can show that the prosecution’s evidence does not directly connect you to the crime.
Contact Tampa Criminal Defense Attorney Bryant Scriven
A criminal defense lawyer can help you if you are facing criminal charges for a credit card BIN attack. Contact Scriven Law in Tampa, Florida to schedule a consultation.
Source:
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