S&C litigation partner Nicky Friedlander, co-head of the Firm’s cybersecurity practice, was interviewed by
Financier Worldwide about an increasingly common form of identity theft called synthetic identity fraud
. In this type of fraud, a criminal uses aspects of multiple individuals’ personal information, or fake information altogether, to create a false identity that may be used to secure loans or obtain credit to use in theft.
In the article, Nicky notes that a main driver of the rise in synthetic identity fraud has been, ironically, improvements in the security of physical credit cards that have made credit card fraud much harder to commit.
Nicky offers insight on ways that companies are fighting back, including by using machine learning and artificial intelligence. “Large and disparate data sets can be synthesized both to confirm identities and spot potentially false ones,” she tells
Financier Worldwide. “Other technologies, like biometric screening, can be leveraged as well.”
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