Synthetic identity fraud: The scam where there’s no real victim to find + MORE Sep 16th

Ever heard of synthetic identity fraud?

It’s a kind of fraud that costs Canadians billions of dollars every year, but awareness around it is lacking. A victim may not even know they’ve been victimized.

Equifax Canada notes that synthetic identity fraud can be difficult to detect with traditional fraud monitoring systems and pose a serious threat to financial health.

MoneySense’s Penelope Graham talked to Carl Davies, Head of Fraud and Identity at Equifax Canada, about this fast-growing genre of fraud.

Watch the interview on our YouTube channel or read a summary of some of the questions answered below.

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“text”: “A: Unlike with regular identity fraud, where someone is impersonating you, a synthetic identity is fabricated from scratch…

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