(WHNT) — Redstone Federal Credit Union (RFCU) addressed fraud attacks that recently hit financial institutions across North America.
According to a statement from RFCU, the attacks came in the form of what they call “Google test charges.” The bank says it was made aware of the BIN fraud attacks last week.
Redstone stated BIN fraud attacks occur when someone takes the first six digits of a debit card number sequence, sets it in an algorithm, and guesses the other numbers until a valid card number is hit.
“Redstone has been working over the past several days to mitigate this threat,” the company’s statement read. “We adjust our fraud detection tactics daily to try and block fraudsters’ continuously changing efforts.”
RFCU said they are reimbursing members “as quickly as possible.”
A spokesperson with Redstone said “a small percentage of our membership is affected. Many of these test amounts are less than $10 per transaction.”
If you suspect that you’ve been a victim of a BIN fraud attack, fill out a Debit Card Dispute form or contact Redstone at 800-234-1234.