What Is Fraud Using a Synthetic Identity?

When committing synthetic identity fraud, thieves fabricate identities using genuine data. Instead of impersonating someone else, they construct a false identity using credentials that were obtained from someone else.

In 2018, one of the most well-known cases of synthetic identity theft occurred in New York. By applying for loans in the names of other people, 13 thieves were able to steal more than $1 million.

How to stop fraud involving fake identities

1. Protect the information that can be used to identify you (PII).

2. Use secure, one-of-a-kind passwords for all of your internet accounts.

3. Make multi-factor authentication (MFA) available. It is capable of thwarting 99.9% of automated attacks.

4. Never divulge personal information to an unidentified source, and carefully review any message that requests it. Any links in emails that look unusually urgent shouldn’t be clicked.

Nicolas Demsel

My work as Editor-in-Chief on this portal is to help disseminate the best of reading contents to my visitors and provide them what they quest for. Support DemselPost by reading more contents from here. Thank You.!

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button