By the time you finish reading this paragraph, a new synthetic identity may have just been created and approved by a financial institution somewhere in the world. Powered by generative AI, identity fraud is no longer a slow-moving threat. It’s fast, scalable, and dangerously convincing.
Fraud losses reported by consumers and companies in 2024 topped $12.5
Read More: Banks can stop synthetic identity abuses by moving as fast as fraudsters
