Synthetic-identity fraud

Monday, 5 November 2007, 3:18 PM EST

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 ]




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