Synthetic ID Fraud – What it is and How it is Created

Over the last twenty years, the proliferation of credit fraud and identity theft has mushroomed into a pernicious $6B a year problem for the lending industry. While card skimming, jackpot ATM Hacking and account takeovers tend to steal the forefront conversation, one persistent fraud method that has exploded in contributing to this is “Synthetic Identity Fraud.”

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