Surviving an economic crisis with the right fraud and risk processes

Economic downturns and an increase in fraud go hand in hand. It happened during the great recession in the 1920s, in 2008, and during the COVID crisis starting in 2020. You don’t have to be clairvoyant to predict if it will happen again in the next few years, during another recession.

Synthetic ID Fraud Cases Soar During The Pandemic

On June 29, 2021, a 45-year-old-Flordia man pleaded guilty to stealing $24 million of COVID-19 relief money through synthetic identification (ID) fraud Their scheme did not happen overnight. Here’s how they did it…