Synthetic Identity Fraud — Hurts Real People

Synthetic Identity Fraud — Hurts Real People The New Battle In Financial Fraud A SCARS Insight “Fake” Synthetic Identities Hurt Real People According to Sontiq: Over the last few years, synthetic identity fraud has taken off. Once considered a complex and expensive crime to commit, synthetic ID fraud cost U.S. banks $1.8 billion in 2020 and is on track to cost banks $2.4 billion by 2023. Meanwhile, the U.S. [...]