The increasing sophistication of synthetic identity fraud

Synthetic identity fraud is most commonly associated with fraud in banking or against credit unions but is often mistakenly overlooked in digital commerce. With fraudsters becoming cleverer about how they use synthetic identities, it’s a tactic that fraud fighters need to watch out for and guard against. Synthetic identity fraud is when a fraudster takes a piece of real identifying information belonging to a legitimate individual and combines it with other identifying information that is either fake or real but belongs to someone else. This is often seen when a fraudster uses a National Insurance number and combines it with… [Continue Reading]