From bleepingcomputer.com
The U.S. Federal Reserve today issued guidance on how financial organizations from the United States can mitigate payment fraud attempts scammers carry out with the help of synthetic identity accounts.
The white paper published today by the Federal Reserve on mitigating synthetic identity payments fraud comes after two previous white papers on defining and detecting such payments fraud attempts.
Synthetic identities are created by fraudsters after combining real information (like Social Security Numbers) and fake information (names, dates of birth, and addresses).