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Compliance Definition: “Synthetic Identity Theft”

by Dealertrack
on November 1, 2011

Identity theft in which the criminal creates a fake identity using real personal data elements of different people to do so. For example, a synthetic identity theft may use a valid Social Security number with a different name, date of birth or address to establish credit. A 2010 study found that at least 20 million people unknowingly share their Social Security number with a synthetic identity thief. 88% of new identity theft is believed to be synthetic identity theft and it is frequently how illegal immigrants establish an identity in the U.S. See Traditional Identity Theft.