According to TransUnion’s report, criminals are using established customer accounts and familiar brands to steal money and personal information, resulting in $2.4 billion in fraud exposure for US lenders.
Earlier attacks and coverage
No earlier related attack in our archive yet.
Business impact
This fraud results in significant financial losses, impacting the operations and financial health of US lenders, and potentially affecting their reputation and ability to secure future funding.
Industries affected
Financial services and lending institutions are particularly affected.
Users affected
Customers are at risk of having their accounts manipulated and their personal information compromised, leading to unauthorized transactions and potential financial loss.
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Sources
- Synthetic identities leave US lenders with $2.4 billion in fraud exposure (Help Net Security)
