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April 2023 Special Focus: Synthetic Identity Fraud: Dealing With a Digital Frankenstein
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Can you face the digital equivalent of Frankenstein—but one that does not actually exist?
That conundrum is one of the ways to describe the premise behind synthetic identity fraud, a kind of fraud that is causing financial institutions and even commercial establishments millions in losses annually. It is a relatively new type of identity fraud that has been growing substantially for the past few years, defrauding retail, financial and even government institutions.
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