Switch to ADA Accessible Theme
Close Menu

Credit Card BIN Attacks

CreditCards

Most financial crimes are not as elaborate as identity theft.  It is possible to cause financial losses simply by stealing someone’s credit card or credit card information, and there are plenty of ways to do this, from surreptitiously photographing a card number from a credit card or a document where the number is written down to physically stealing the card and swiping it at a store to using credit card skimmers to extract the information from the card.  If the state wants to convict you of credit card fraud, it must prove to the jury exactly how you accomplished it.  If there is reasonable doubt about whether this is what you did, the jury must acquit you.  Meanwhile, credit card payment technologies are always evolving, and with them the many manifestations of credit card fraud.  BIN attacks are only the newest form of credit card fraud, and criminal cases involving BIN attacks have been on the rise for the past few months.  If you are facing criminal charges for a BIN attack or another kind of credit card fraud, contact a West Palm Beach white collar crime lawyer.

What Is a BIN Attack?

BIN stands for bank identification number, and it is the first six digits of a 16-digit credit card number.  Every credit card issued by the same bank has the same BIN number, in much the way that all checks issued by the same bank have the same routing number.  It is possible, but not easy, to commit credit card fraud by guessing a credit card number and typing it into a payment website.  Current artificial intelligence technology has an unprecedented talent for this.  The new generation of bots enters six-digit numbers until it finds one that represents a genuine BIN number.  Then it follows it with 10-digit numbers until it finds a real credit card, at which point it starts making fraudulent transactions,  Bots can do this at a dizzying speed, but the issuing banks usually flag the transactions and do not withdraw funds from the accounts of the card holders or post the charges to their credit card accounts.

Possible Defenses If You Get Accused of Orchestrating a BIN Attack

Many financial crimes that involve advanced technology also involve networks of multiple people; lone wolf scammers usually do not sic their bots on millions of credit cards and send them out to make transactions.  In other words, BIN attack cases often involve charges of conspiracy.  If the state wants to convict you of conspiracy, it must be specific about what your role in the conspiracy was.  If you can cast doubt about whether you were involved with a particular aspect of the operation, you can cast doubt on your guilt.  You do not have to prove who did it instead of you, because the burden of proof is on the prosecution.

Contact a West Palm Beach Criminal Defense Lawyer Today

Attorney William Wallshein has more than 38 years of experience, including five years as a prosecutor in Palm Beach County.  Contact William Wallshein P.A. in West Palm Beach, Florida to discuss your case.

Source:

msn.com/en-us/money/personalfinance/what-is-a-bin-attack-on-a-credit-card-understanding-this-type-of-credit-card-fraud/ar-AA1p3ILW?ocid=msedgntp&pc=ACTS&cvid=b4fc8be817b040aba8a60002df29383b&ei=15

Facebook Twitter LinkedIn