DigiGov Central

Synthetic Identity Fraud

Fake identities are driving a boom in financial fraud. A new study has shown that fraud involving AI-generated identities has risen 17 percent over the past two years, while more than two-thirds (76 percent) of financial professionals believe that their companies have approved customers using synthetic identities.

Synthetic identities are created by combining real personal information, such as social security numbers, with fabricated data, including those created by generative AI.

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