U.S. companies report losses of $20 billion in 2021 compared to $6 billion in 2016. Synthetic ID fraud or SIF has grown in popularity among bad actors over the years. Cybersecurity and fraud experts discuss why this type of fraud has gained traction, how fraudsters use it, and what we can expect in 2022. SIF-deploying threat actors use automation and artificial intelligence to evade traditional identity verification solutions, according to synthetic identity fraud solutions provider FiVerity.”]
Source: https://www.fraudtoday.io/combating-synthetic-id-fraud-in-2022-a-18165