Key Points
MUMBAI: Several Axis Bank customers have reported either attempted or successful..
A BIN attack, also known as a Bank Identification Number attack, is a type of credit card fraud where cybercriminals attempt to generate valid credit card numbers by systematically testing different combinations of card numbers..
BIN is the first six digits of a credit or debit card number and identifies the issuing bank or financial institution...
Axis Bank president and head of cards & payments. told TOI: "This is a malicious attempt from certain merchants, and we have seen a few transactions hitting our system, affecting only a few cards..
Since these are international e-commerce transactions and are not authenticated through the two-factor authentication process, our customers have full chargeback rights, and the amounts are fully recoverable..
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