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Credit card fraud is on the rise, but not in the usual way: hackers are cobbling together synthetic accounts from real and fake names, addresses, social security numbers, and credit histories. Children's social security numbers are particularly at risk. Find out how it all works, and what you can do to help prevent synthetic account fraud, and help with inflation in the process.
Resources
- FBI: Combating Threats in the Cyberworld
- LawPay: Guide to Securely Storing Credit Card Information
- How Can Someone Use My Credit Card Without Having It? A Complete Guide to Theft Prevention
- Motley Fool: Identity Theft and Credit Card Fraud Statistics for 2024
- Mastercard: What is Synthetic Identity Fraud?
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