Passwords are so difficult to remember. We all know we shouldn’t use the same or similar passwords across platforms. Stolen password credentials are dumped on the dark web and criminals use the stolen passwords to steal other data from victims, including frequent flyer miles, online banking credentials, cryptocurrency and other digital assets, and to get
darkweb
Federal Reserve White Paper on Synthetic Identity Payments Fraud—A Growing Problem in the U.S. That Affects Consumers, Businesses, Financial Institutions, Government Agencies and the Health Care Industry
By Norman Roos on
Posted in Cybersecurity
In the Federal Reserve’s July 11, 2019 White Paper, “Synthetic Identity Fraud in the U.S. Payment System, A Review of Causes and Contributing Factors,” the authors conclude that synthetic identity fraud is a serious and growing problem for the U.S. payments ecosystem that can only be addressed by a collaborative effort among all payments…