Artificial Intelligence & Machine Learning , Fraud Management & Cybercrime , Fraud Risk Management

The Rise of ‘Frankenstein Fraud’ for Synthetic Identities

Kathleen Peters of Experian Describes Findings of New Report
Kathleen Peters, chief innovation officer, Experian

More fraudsters are using artificial intelligence to generate “Frankenstein faces” for use in synthetic identity fraud. Kathleen Peters of Experian outlines this disturbing development in fraudster behavior, as outlined in the firm’s 2021 Future of Fraud Forecast.

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“Out in the marketplace, there's been an availability of AI-generated faces, which are very realistic,” she says. “This allows fraudsters to put a very real seeming face with this fake identity that they've created” to help them circumvent layered fraud-detection efforts, she adds.

In a video interview with Information Security Media Group, Peters discusses:

  • The emergence of AI-generated faces in synthetic identity fraud;
  • Continued fraud leveraging COVID-19 themes;
  • The re-emergence of constant automated attacks.

At Experian, Peters is chief innovation officer for decision analytics in North America and leads innovation and business strategy. She was formerly head of the fraud and identity group within the company’s decision analytics business in North America.

About the Author

Nick Holland

Nick Holland

Former Director, Editorial

Holland focused on the intersection of digital banking, payments and security technologies. He has spoken at a variety of conferences and events, including Mobile World Congress, Money2020, Next Bank and SXSW, and has been quoted by The Wall Street Journal, CNN Money, MSNBC, NPR, Forbes, Fortune, BusinessWeek, Time Magazine, The Economist and the Financial Times.

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