There is no question that synthetic identity theft — a crime perpetrated by bad actors who use real and fake personal information to craft an authentic-looking digital identity — is a fast-growing crime. The 2017 Equifax breach alone exposed the Social Security numbers of more than 140 million Americans, and those affected are still battling claims years later.
Data breaches are not unique to the US — companies around the world face similar challenges. Personal information exposed from data breaches often winds up for sale on dark web marketplaces, which is where fraudsters can buy the data they need to commit synthetic identity theft.
- What is synthetic identity fraud?
- What makes synthetic identity fraud so difficult to combat?
- How are synthetic identities used?
- What you can do to battle synthetic identity fraud.