What is Synthetic Identity Fraud?
Synthetic identity fraud involves creating new, fictitious identities by combining legitimate data, such as Social Security numbers, with fabricated personal details. Unlike traditional identity theft, which exploits an existing person’s whole identity, this method creates a non-existent individual. This hybrid approach makes detection especially challenging for agencies, as these identities often pass initial verification checks. The Federal Trade Commission notes that such fraud can go undetected for years, compounding its impact and making it a formidable threat.