Payments and Fraud Glossary

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Bank Identification Numbers (BIN)

The first six to eight digits on a credit card, which can be used to identify the issuing bank that issued the card. BINs are traditionally used by online merchants as a way to detect fraud by matching the geographic area where the cardholder is located to the geographic area identified in the Bank Identification Number.

Behavioral analytics

Data that is collected and analyzed about a user’s normal online/ mobile activity patterns. By this way, anomalous activity is identified in order to determine if certain transactions align or not with the user’s typical patterns of transacting.

Big Data

Large data sets that may be analyzed computationally to reveal patterns, trends, and associations relating to human behavior and interactions. By developing predictive models based on both historical and real-time data, companies can identify suspected fraudulent claims in the early stages.

Binding and activation of authenticator

Establishing an association between a credential and the entity to which it will be issued (binding), making it ready for use (activation).

Botnet

A botnet is a number of Internet-connected devices, each of which is running one or more bots. Botnets can be used to perform distributed denial-of-service attack (DDoS attack), steal data, send spam, and allows the attacker to access the device and its connection. The owner can control the botnet using command and control (C&C) software.

Bring your own authentication (BYOA)

A computing concept in which an employee-owned device, such as a key fob or smartphone, can be used to provide authentication credentials within a business environment.

Bring your own device (BYOD)

Bring your own device (BYOD) is an IT policy where employees are allowed or encouraged to use their personal mobile devices — and, increasingly, notebook PCs — to access enterprise data and systems.

Bring your own identity (BYOI)

An approach to digital authentication in which an end user’s username and password is managed by a third party.

Brute Force Attack

A brute force attack consists of an attacker trying many passwords or passphrases with the hopes of eventually guessing correctly. The attacker systematically checks all possible passwords and passphrases until the correct one is found.

Business Intelligence Reporting

Refers to the process of receiving information or reports to end-users/ organizations/ applications through the software/ solution. Datamart, by Kount, helps fraud administrators discover trends, summarize results and analyze historical information of transactions drawing from over 100 variables.

Bust-out fraud

A type of credit card fraud where an individual applies for a credit card, establishes a normal usage pattern and solid repayment history, then racks up numerous charges and maxes out the card with no intention of paying the bill.