Synthetic Identities
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Data breaches fuel growth in synthetic identity fraud | ACFCS Data breaches fuel growth in synthetic identity fraud | Association of Certified Financial Crime Specialists

Data breaches fuel growth in synthetic identity fraud | ACFCS Data breaches fuel growth in synthetic identity fraud | Association of Certified Financial Crime Specialists | Synthetic Identities | Scoop.it
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How 'synthetic' identity fraud costs Canada $1B a year

How 'synthetic' identity fraud costs Canada $1B a year | Synthetic Identities | Scoop.it
Thousands of driver's licences with fake names are circulating in Ontario, with many being used in a new type of fraud that’s plaguing the financial industry, growing exponentially and costing Canadians up to a billion dollars a year, experts say.
The Fraud Chronicles's insight:

Two years ago I attended a presentation of Toronto's Detective Constable Mike Kelly and his partner, who have now been investigating synthetic identity fraud for years. At that time they had exposed hundreds of synthetic identities managed (being "cooked" in a very sophisticated way over a period of time) by a single man whose face they knew, but who had disappeared. The tendrils of the investigation were international, and massive. 

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Suspected terrorist links to synthetic ID fraud are being 'ignored'

Suspected terrorist links to synthetic ID fraud are being 'ignored' | Synthetic Identities | Scoop.it
The growing problem of synthetic identity fraud is raising concerns that terrorist cells could be linked to these schemes, experts say.
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The Borrower Who Never Was

The Borrower Who Never Was | Synthetic Identities | Scoop.it
Some fraudsters are mixing legitimate and phony data to create "synthetic" identities. This kind of fraud doesn't usually affect consumers. The big losers are banks, which get stuck with loan defaults and unpaid credit-card bills.
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Synthetic identities

Synthetic identities | Synthetic Identities | Scoop.it
Alarming trend represents the majority of all identity fraud: Thieves target real SIN numbers to create fake identities
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The Fraud Chronicles's curator insight, June 24, 2014 7:47 PM

CBC Summary of Synthetic Identity fraud stats, comparison to true-name ID fraud, and description of vulnerabilities. In the USA: Synthetic Identity fraud represents 88% of all identity fraud events, and 74% of total dollars lost by US businesses. 15% of synthetic identity fraud attempts are not detectable on public record databases. What are the stats in other countries?

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Synthetic ID fraud investigations thwarted by 'information silos'

Synthetic ID fraud investigations thwarted by 'information silos' | Synthetic Identities | Scoop.it
The lack of information sharing between agencies issuing identification cards is impeding the effort to thwart synthetic identity fraud, one of Toronto's investigators of the crime says.
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Synthetic identity fraud: The anatomy of a scam

Synthetic identity fraud: The anatomy of a scam | Synthetic Identities | Scoop.it
How one man got lured into the world of synthetic identity fraud.
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DriveTest employees charged with fraud

DriveTest employees charged with fraud | Synthetic Identities | Scoop.it
Two employees who work with DriveTest Ontario are among four people facing charges of fraud after Toronto police uncovered hundreds of false identities were being distributed.
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The Fraud Chronicles's curator insight, June 6, 2014 6:00 PM

Synthetic Identities: This CTV News report from 2009 shows the tip of the "Synthetic Identity" industry's iceberg.