Synthetic Identity Fraud: The Hidden Threat Behind the Data

Synthetic identity fraud is on the rise, and it’s more complex and dangerous than ever. In this episode, host Elliot Berman is joined by Amy Petric, Ross Yellon, and Adam Gunselman to break down how synthetic IDs are created, where they’re being used, and why they’re so hard to detect. You’ll hear real-world examples of fraud in credit cards, auto loans, and fintech platforms, along with insights into the tools and strategies financial institutions are using to fight back. From AI-generated IDs to dark web data and bust-out fraud, this conversation sheds light on the evolving tactics of fraudsters and the critical role of both technology and human oversight in stopping them. Start 0:00 0:08 An Overview of Synthetic Identity Fraud: Impacts, Detection, and Mitigation Strategies 7:15 ID Verification and Training Strategies in the Face of Advanced Challenges 10:24 Data Analysis, Automation, and Human Intervention in Cybersecurity 15:41 Fraud Trends and Measures in the Financial Sector You can find all of our previous AML Conversations here: https://www.amlrightsource.com/resources/tag/podcasts