What are synthetic identities?

What is synthetic indentities?

Synthetics identities is a form of fraud where the fraudsters combine real and fake information to create a new identity. These identities are then used to open fraudulent accounts and make purchases around it. These kind of indentities often plague the e-commerce fraud.

How are e-commerce companies impacted by synthetic fraud?

Ecommerce companies often rely on digital advertising to acquire new customers and offer discounts and offers to help them convert for purchases. Each and every purchase on e-commerce is driven through incentivised payouts for ad-networks and affiliates. For example : If an ad-network has a payout for 5$ for each and every successful purchase on a particular ecommerce app or website. A fraudster would real time purchase the product, grey the product the market and make money on the CPS ( Cost Per Sale ) model using synthetic identities.

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