Compliance Definition: “Synthetic Identity Theft”
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.
Subscribe to our Blog
Sign up today to receive updates on the latest news.
Please enter a valid email address.