In May 2002, Las Vegas resident Adam Gregory went on a business trip to Phoenix. He stayed at the Ritz-Carlton and charged the $1,082 bill to his American Express card - or so financial records show. In fact, Mr. Gregory didn't live in Las Vegas, never held a job and wasn't even a real person.
Rather, Mr. Gregory was a "synthetic" identity - a person who appears real on paper but is actually a fraudster's concoction designed to trick financial institutions into granting loans and issuing credit cards.
At the Wall Street Journal.
[ Read more ]
Reading our newsletter every Monday will keep you up-to-date with security news.
Receive a daily digest of the latest security news.