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The making of synthetic identities

A combination of mass identity data compromise and the increasing abilities of organized fraud rings has created a synthetic identity epidemic that is impacting all markets. Here are the three ways that synthetic identities are generally created:

  • Credit applications and inquiries that result in synthetic credit profile creation or build.
  • Exploitation of the authorized user process designed to take over or piggyback on legitimate credit profiles.
  • Data furnishing schemes that falsify regular credit reporting agency updates.

When it comes to fighting synthetic fraud, we all need to be a part of the solution – or we are just a part of the problem.

Mitigate synthetic identity fraud >