Synthetic ID Fraud, Bust-Out Schemes Detailed by NAFCU

“Synthetic identification fraud appears to be one of the fastest-growing type of identity theft and financial crime in the U.S.,” says NAFCU Regulatory Paralegal Shari Pogach. Pogach explains this fraud – and recent charges brought against 11 defendants for defrauding $3 million from banks through the use of fake identities – in a new NAFCU Compliance Blog Post.

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