subject: Bank Bin Numbers- Helping You To Detect Fraudulent Cards [print this page] If there's one thing that can help any business to combat fraud, it's bank BIN numbers. By using bank BIN lookup, you could help to save your business from expensive charge back fees. This is a growing problem for most businesses. While the internet has certainly made it easier to offer products to a wider customer base, it has also brought with it the opportunity of a lifetime for fraudsters.
These days a fraudster doesn't even have to leave the house to get their hands on somebody else's money. Not all websites offer a safe and secure shopping experience. A fraudster can get hold of somebody's details and then use them to buy all kinds of things online. While many online stores are increasing their website security, there are still some that are letting fraudulent transactions slip through the net. So just how are some businesses combatting fraudulent transactions? The answer is with a bank BIN check.
Using Bank BIN Numbers Search to Detect Potential Problems
Bank BIN numbers can be successfully used to detect potential fraud. All you need is a Bank BIN number list installed on your computer. Then you can create a script where you flag future transactions is certain data doesn't match up. For example, a transaction could be flagged if the country the card is being used in is different from the one registered to the card. This means that you don't have to constantly keep an eye on the transactions that are made every day. If you run a medium to large business then it's impossible to scan and check each credit card transaction. You need a database that can do it automatically. So keep this in mind when you are looking for the right bank BIN number lookup to suit your business.
How is the Database Compiled?
The bank BIN numbers list will be comprised by organisations and individuals. It isn't the official IIN lookup. This cannot be viewed by members of the public for data protection issues. The first six digits on your card can potentially tell somebody where you live. This would obviously be a bad idea if a fraudster used the system to get your details. So, organisations and individuals have set up a database that consumers can add to. They are constantly being updated with new numbers.
The thing to remember is that the databases still have thousands upon thousands of numbers listed. As more awareness regarding Bank BIN numbers increases, more numbers will be added. The bank BIN numbers lookup is one of the most effective ways to stop fraudulent transactions. They are in place in many large and small businesses and they can really help to save you so much money. Why take risks when you don't need to?
Look online for bank BIN number software today. You can rely upon most of them and they are really easy to set up. If you're unsure as to how good they actually are then you could always try a demo beforehand.
