The risk exposure to businesses from synthetic identity fraud totaled $3.2 billion during the first half of 2024—an all-time high, and up from $3 billion during the same period a year ago, says TransUnions’s “H2 2024 Update” to its State of Omnichannel Fraud Report. Criminals actively used synthetic identities to …

With just 52 days until the traditional start of the holiday shopping season post-Thanksgiving, consumers and criminals are gearing up for a busy period. A new report from ACI Worldwide Inc. forecasts that synthetic-identity fraud and artificial-intelligence use will be a big lump of coal for merchants. Meanwhile, identity platform …

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One morning, I was checking out at a grocery store when I saw the store manager rush out of her office. “Who has the big gift card purchase?” she asked, hurrying down the row of cash registers. She had gotten a call alerting her to a fraudulent transaction and asking …

If fraud prevention remains tied to single regions, online payment losses will continue to mount. The global financial ecosystem has become incredibly interconnected with the growth of e-commerce, where global sales approached the $6-trillion mark in 2023. Fueled by new payment methods and categories like mobile and social commerce, online …