Synthetic identity fraud is a type of fraud in which a false identity is generated using real and fictitious information. In this type of fraud, criminals use personal information of different people, such as names, addresses, social security numbers, dates of birth, among others, to create a false identity that does not belong to any real person.
The process of committing synthetic identity fraud usually contains the following steps:
Information collection: criminals collect personal information from different sources, such as public databases, social networks, credit records, among others.
Fake identity creation: criminals combine the collected information to create a new fake identity. In some cases, they may even use false information to complete the identity.
Identity verification: criminals use the new false identity to apply for financial services, such as credit cards, loans, bank accounts, among others. In some cases, they may even apply for employment or government services.
Identity construction: criminals construct the false identity over time, using information and financial services to enhance the credibility of the identity.
Fraudulent use: once the false identity has been constructed, criminals can use it to carry out different types of fraud, such as identity theft, credit card fraud, money laundering, among others.
Synthetic identity fraud can be difficult to detect, as criminals use real information to create the fake identity. In addition, criminals may also use different fake identities to carry out their fraudulent activities, making them difficult to trace.
How to detect it?
Detecting synthetic identity fraud can be difficult, as it involves the creation of a false identity using real and fake information. However, there are some warning signs that can help detect synthetic identity fraud, check:
Consistency of information: verifies that the information provided is coherent and consistent in all documents and records.
The source of the information: and make sure it is reliable and legitimate.
Account activity: and make sure it is consistent with the typical behavior of the account holder.
Documentation: ensure the authenticity of the documents submitted and that they are not falsified or tampered with.
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