Fraud alert on laptop Source: Shutterstock

The Huntsville, Ala.-based Redstone Federal Credit Union said on Tuesday that it has been the victim of a BIN (Bank Identification Number) attack. While it’s unclear when the attack began or exactly how many members have been impacted, the credit union stated that it discovered the attack last week.

According to a statement from Redstone ($7.6 billion in assets, 653,211 members), the attack is ongoing. “A small percentage of Redstone’s members have been affected. Redstone continues to work to mitigate this threat. We evaluate and adjust our fraud detection tactics daily to try and block fraudsters’ continuously changing efforts. Our efforts to stop this fraud is having an impact.”

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Michael Ogden

Editor-in-Chief for CU Times. To connect, email at [email protected].

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