Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Fraud Prevention


Published on

A few online fraud prevention can be executed when you are alert to techniques useful to buy your information and refusing to divulge your own credit card facts, passwords or any other monetary needs.

Published in: Economy & Finance, Business
  • Be the first to comment

Fraud Prevention

  1. 1. What is was founded in 2009 by a group of ambitious and experienced IT professionals that are dedicated to providing revolutionary and complete anti-fraud services. The idea of creating as complete a BIN database as possible has been in our heads for more than five years before we started to actually collect the data and conduct the research. The founders have years of experience in online based businesses. As we faced the problem with online fraud and chargebacks, the need for extensive Bank Identification Number database was growing more and more witch each online business we started. In early 2006 we started gathering materials and conducting research on a new ambitious project to create a complete online anti-fraud system to help prevent online fraud and reduce chargebacks. Since the idea began to emerge in 2006 our team has grown exponentially to meet the demands of the massive project has become. As we worked and gathered the BINs our developers and researchers came to develop a set of tools which allowed us to verify the validity of different Personal Identity Documents such as ID cards and International Passports. Finally in 2009 we decided to unite all our privately used tools and the already enormous Bank Identification Number database into one product which came to be
  2. 2. What is The work on the product and all tools continues every day and we constantly strive to better our service to meed the growing demand of complete anti-fraud package for medium and large online businesses. Join our service and make the next step to the successful growth of your commercial online projects. is property of BinDB LLC, 16192 Coastal Hwy Lewes, DE 19958 USA
  3. 3. Fraud Prevention - Use of bankidentification numbers data How do bank identification numbers help in fraud prevention? Online transactions are all the rage today, with more and more customers opting to make use of online transactions to buy the coveted products. As online transactions grow rapidly with each passing day, fraudulent activities have also cropped up to erode the profits of merchants in the process. For merchants, online fraud prevention and detection is the need of the hour, where diligent use of bank identification numbers data is sure to help a merchant screen a suspicious order and enhance fraud prevention measures in the bargain. How do bank identification numbers help in fraud prevention? Bank identification numbers offer valid information on credit and debit cards, which encompass details like the brand of card to know whether it is Visa or MasterCard, type of card, and the level of card to know whether it is Gold or Classic, among the other relevant details of the credit and debit cards that gets used during online transactions. In simple terms, with the bank identification numbers, a merchant finds an ideal fraud protection measure that can throw more light on the card and its user.
  4. 4. Fraud Prevention - Use of bankidentification numbers data But, gaining access to supplementary information that stretch beyond the six digit card numbers, equips a merchant with the needed fraud protection measure that can put a stop to suspicious transactions. By making use of the supplementary information, a merchant can enhance the risk management components by way of the data obtained through the information, which in turn helps a merchant to know if a fraudulent activity is attempted through an online transaction. The bank identification numbers data sounds a warning bell when the country of issue is different from the country of intended delivery. To buttress fraud protection, the extensive bank identification numbers database helps a merchant to check the authenticity of questionable orders. For instance, when a card issued by a bank found in the USA is put to use to buy and ship a product to Belarus, the attempted transaction can be reviewed and screened before taking steps to complete the order process, which is the ideal way to put fraud protection in place. Why bank identification numbers data serve as best fraud protection measure?
  5. 5. Fraud Prevention - Use of bankidentification numbers data By gaining access to an extensive bank identification numbers database that unveil records of users on a large scale, a merchant is making sure to embrace the best fraud protection measure to differentiate a genuine credit card from that of a fake card that looks similar to the original. Keeping a check on the customer chargeback ratio is one of the significant features that demand the attention of the online merchants. High customer chargeback ration can erode the reputation and profits of a business. By cancelling transactions that reek of fraudulent activities, the online merchant is not only embracing the best fraud protection measure, but is also embracing the best measure to keep the customer chargeback ratio in check. This is made possible only when the online merchant gains access to an extensive bank identification numbers database. By using BIN database, an online merchant can make use of a host of information to enhance fraud protection. The information includes details about the card, bank that issued the card, personal information related to the card holder, and other
  6. 6. Fraud Prevention - Use of bankidentification numbers data relevant information, which can be used to double check the authenticity of a transaction, and to know if it’s the right owner of a card who is attempting to make an online transaction. Gaining access to the bank information numbers database is the best way to enhance fraud protection measures, and to thwart duplicitous attempts made by miscreants. Try our online BIN database
  7. 7. Reduce Chargebacks with BankIdentification Numbers Here is method that help to lower the number chargebacks A Banks identification number (BIN) is a set of first four to six digits on a credit card, debit card, electronic benefit card or a charge card, used to identify the issuing Institution and its address, type of card and other details on the card. Learn what you can do to reduce chargebacks and prevent fraudulent transactions when selling online. An increase in global transactions and movement of people requires critical and accurate matching information about the transactions between the merchants or card holders, card issuing institutions, and the banks being used for transactions. For example, a misunderstanding may arise where by a merchant withdraws more funds than agreed upon in the transaction, from the card of the client. The client’s issuing bank will forcibly initiate a return of the excess funds to the owner’s bank account, credit card, debit card or charge card. A situation in which excess funds are returned to the owner is known as a chargeback. A chargeback helps reverse a fraudulent transfer. Here is method that help to lower the number of enquiries you receive and reduce the number of chargebacks.
  8. 8. Reduce Chargebacks with BankIdentification Numbers Advantages of Bank Identification Numbers 1. Fraud prevention Bank Identification numbers help to match information between merchants and their customers so as to avoid fraudulent transactions. A fraudulent transaction that involves a chargeback is more likely to affect the merchant’s business and may lead to a closure of the merchant’s account. In some incidences, criminal investigations will be launched against the business owners with possibilities of prosecution. It is internationally agreed that the customer chargeback ratio should not exceed 2.5%. A bank Identification number helps the merchant to receive notice of excess withdraws and this allows the cancelation of transactions that might be considered fraudulent. The Merchant would also be able to determine the percentage chargeback, so as to avoid a situation leading to the closure of the account.
  9. 9. Reduce Chargebacks with BankIdentification Numbers 2. Reduce chargebacks The growth in online business has been followed by matching proportions in online fraud. There is an increase in the use of fraudulent credit cards ma situation that is likely to affect the chargeback ratios of business owners. A bank identification number will help merchants identify card holders and card issuers. The identification numbers are representative of the issuing company and the bank and this will help you validate the accuracy of the card before approving a transaction. 3. Risk Management A number of newly opened businesses on the internet are a possible target of fraud organizations. Many tend to receive numerous orders for their good and services from these organizations and may end up making many shipments .Because most fraudulent companies use forged or stolen cards, these businesses will incur heavy losses than may possibly lead to closure and at times high risks of chargeback bank Identification Number is one way a newly opened business owner can prove the identity and accuracy of the destination of the goods.
  10. 10. Reduce Chargebacks with BankIdentification Numbers Merchants have a chance to cross check the information of the country of delivery before actually sending the goods. For example, a person credit card issued in London and sending goods to Uganda will have the information crosschecked before the goods are actually sent to Uganda. Try our online BIN database
  11. 11. Thank You