Synthetic Fraud Detection: An In-Depth Guide

Synthetic identity fraud is a type of identity theft in which a criminal combines both real and fake personal information to create a new, fictitious identity that can then be used for various identity-related schemes, such as credit card fraud, bank fraud, and more. While the fraudster may use an individual's SSN, they add fake personal details, such as a fictitious name and address. This combination of identifying information often fails to show up on credit reports or other traditional detection tools used by consumers.