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Deep Dive into Synthetic Identity Fraud

The FTC calls synthetic identity fraud one of the fastest-growing financial crimes in the U.S. Synthetic identity fraud is harder to detect than traditional forms of identity theft. One of the largest synthetic ID rings was detected in 2013, when the Department of Justice charged 18 people with $200 million in credit card fraud in 28 states and eight countries. Children are 51 times more likely to fall victim to identity theft than adults, and the elderly make for better targets. With so much personal information being scraped and sold on the dark web, the odds of becoming another identity theft victim are high.”]

Source: https://www.bitdefender.com/blog/hotforsecurity/deep-dive-into-synthetic-identity-fraud/

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