“Synthetic” identity theft is even scarier than the original
Management consulting company McKinsey names synthetic identity theft the fastest growing financial crime in the United States. And a LexisNexis Risk Solutions study has found that 20% of ID theft losses by banks can be attributed to synthetic versions of the scheme.
If you’re unfamiliar with synthetic ID theft, you should know that it’s not — as its name might imply — a weaker, less ...