Synthetic identity fraud is when a criminal combines real and fake information to create a new identity. This data is then used to open fraudulent accounts and make fraudulent purchases, stealing from creditors, including credit card companies, who extend credit based on the fake identity. Synthetic identity fraud costs American businesses an estimated $50 billion per year and accounts for over 80% of all identity fraud. * **
Hear from former U.S. Most Wanted Cybercriminal, Brett Johnson on synthetic identity fraud. He has first-hand experience on this topic, and he will divulge the specifics behind how it works and what you can do to stop it. Learn the latest techniques that are used by fraudsters to create synthetic profiles, build fraudulent credit reports, commit the crimes and finally, cash out.
Watch now to learn:
- How fraudsters succeed with synthetic identity fraud
- Why fraudsters are choosing synthetic identity over stolen identity
- Why synthetic identity fraud is so difficult to detect
- What fraudsters are using as workarounds to complete their hacks
- How to uncover fraudsters’ attempts in real time
- How to confidently authenticate new consumers
If you haven't already, watch part one of iovation's webinar series featuring Brett Johnson, "Combating Social Engineering and Account Takeover by a Former U.S. Cybercriminal".