A new report from TransUnion shows that synthetic identity fraud is the fastest rising type of fraud in 2024.
Synthetic identity fraud, which involves combining real and fake information to create new identities, is on the rise, according to a new report from the credit bureau TransUnion, which analyzed data breaches and fraud in the public sector over the past year.
According to the report published Wednesday, data breaches in the U.S. increased 15% year over year in 2023, with 54% of consumers across 18 countries and regions reportedly targeted in online, email, phone call or text messaging fraud attempts from September to December of last year.