Synthetic ID fraud or SIF has grown in popularity among bad actors over the years, with US companies reporting losses of $20 billion in 2021 compared to $6 billion in 2016. Cybersecurity and fraud experts discuss why this type of fraud has gained traction, how fraudsters use it, mitigation steps, and what we can expect in 2022. SIF-deploying threat actors use automation and artificial intelligence to evade traditional identity verification solutions, according to synthetic identity fraud solut
