Debit Card Fraud Alert!

April 13, 2023 By: bankofeaston

Recently, there has been an increase in “BIN Attacks”, or Bank Identification Number attacks, that have impacted banks in the Greater Boston area. The first 6-8 digits of a debit card number are unique to the issuer. BIN attacks involve fraudsters using sophisticated software to target an entire BIN and then randomly generating the remaining digits in various combinations. The fraudsters then attempt small online purchases to identify active cards.

Cybercriminals also frequently attempt to obtain the victim’s credit card information through various means, such as phishing scams, hacking, or purchasing stolen data on the dark web. Once they have this information, the stolen information to make unauthorized purchases.

We have not had reports of BIN attacks on any Bank of Easton customers. Although we have controls in place to help limit this type of fraud, there are steps you can take to help us combat debit card fraud:

• Be vigilant: Monitor your online bank accounts and credit card statements and immediately report any unauthorized charges to your bank.
• Secure your data: Be cautious when sharing personal information online, and use strong, unique passwords for all your accounts.
• Monitor your credit: Regularly check your credit report for any suspicious activity.
• Download our free mobile banking app and enroll your debit card to receive alerts for your debit card activity.

By following these steps, you can reduce your risk of falling victim to a BIN attack and help to protect yourself against cybercrime.