Synthetic fraud

Fraudsters use real Social Security Numbers (often from children or the deceased), fake names, and fabricated data to build a new identity. This identity is used to open bank accounts, build credit, and eventually “bust out” by defaulting on loans or purchases.

1. Financial identity theft: using another person’s data for monetary gain. 2. Medical identity theft: stealing someone’s identity for healthcare access. 3. Criminal identity theft: posing as someone else when arrested. 4. Synthetic identity theft: combining fake and real data. 5. Child identity theft: using a minor’s details, often undetected for years.

Detection requires cross-referencing data points (e.g., credit headers vs. public records), behavioral analysis, and digital footprint monitoring. Requiring biometric or document-based verification also makes it harder to fabricate identities.