AI enabling rise in ‘synthetic fraud’ attacks, credit information firm warns

Experian said that analysis of confirmed fraudulent and potentially fraudulent credit applications showed a 60% annual jump in false identity cases in 2024 (Dominic Lipinski/PA) - (PA Archive)

A rise in “synthetic fraud” – where a combination of fake and real information is being used in applications – is being seen by a credit information service.

Previously, criminals may have had to go through people’s bins, trawl through publicly available information online or buy information on the “dark web”.