Get Your Copy of the Guide
In recent years, a novel form of fraud has emerged: fraudsters combine elements of stolen identities and wholly fabricated information to create patchwork “synthetic” identities to obtain access to financial services, such as credit, loans, and merchant accounts. This combination of genuine and fabricated details render these identities increasingly difficult to detect as fraudulent, putting the payments community and the public at risk.
In this 20-page introductory guide, we look at how synthetic identity fraud has started to impact payment service providers, discuss methods and tactics of synthetic account creation, and offer helpful tips on how to better identify and stop these fraudsters. You'll learn:
- How synthetic identity fraud is evolving
- Methods of synthetic account creation
- How synthetic accounts are "aged"
- Risks and characteristics of synthetic accounts
- Mitigating the risks of synthetic accounts
- A real case study and more!