Synthetic ID fraud has grown in popularity among bad actors over the years, with U.S. companies reporting losses of $20 billion in 2021 compared to $6 billion in 2016. Cybersecurity and fraud experts discuss why this type of fraud has gained traction, how fraudsters use it, and what we can expect in 2022. The report delves into the formulation of synthetic identities, the construction of these profiles, and how they avoid detection. Experts discuss mitigation steps and how to stop synthetic ID fraud.”]
Source: https://www.databreachtoday.com/combating-synthetic-id-fraud-in-2022-a-18165