Synthetic Fraud is a complex form of identity theft that occurs when a fraudster uses a combination of both fake and legitimate personal information or legitimate personal information from more than one individual to create a false or “synthetic” identity to build credit, make fraudulent purchases, and more. This process could combine a stolen Social Security Number with a fake address, date of birth, or new phone number. Synthetic Fraud is fast-growing and difficult to monitor and detect due to the often long process a bad actor uses to create a synthetic identity.
