This alert may not be shared outside your organization, Do Not Repost or send, place on other websites, List servers, or send to others via email, including other associations or parties. Members and Law enforcement use only. Contact us for any permissions. To do otherwise will result in the loss of membership.
Complete Story
02/10/2022
What to know about 'synthetic fraud' | The fastest growing fraud targeting kids
11 Alive
ALPHARETTA, Ga. — Synthetic identity fraud makes up 85% of all fraud right now according to the FTC.
It caused $20 billion in losses in 2020, and experts said the most at risk could be your kids.
"A synthetic identity is when someone makes up a fake name, date of birth and social and uses that fake individual to get credit or apply for different kinds of financial products from banks, lenders and financial institutions," explained Naftali Harris, CEO and co-founder of SentiLink, an identity verification company. "Contrasting with I.D. theft, where you steal a real person's identity, with synthetic fraud you make up a fake person."
Alerts
The FRPA alert system distinguishes us from other groups by gathering and providing information to law enforcement, retailers AND financial institutions.
more information
Resources
Your electronic library to help in fighting financial fraud for all of our partners.
more information