Fraudsters have found a new, innovative way to steal money. As data breaches proliferate, countless stolen identity credentials and other critical information are ending up in the hands of these fraudsters, who are then able to pose as legitimate users behind the cloak of the Internet. Today, synthetic identities – based on a combination of real and false personal data – are being used to defraud organisation’s like banks, lenders, insurers, telecommunications services providers, and even governments.
