Why Synthetic ID Fraud Is on the Rise

In the latest weekly update, ISMG editors discussed key takeaways from RSA Conference, delve into the surge of synthetic ID fraud in the auto lending industry, and examine a new initiative by the UK’s National Cyber Security Centre and major insurance associations to combat ransomware threats.

See Also: OnDemand | Guardians of Cybersecurity: Guide to Fortifying Defenses, Navigating Cyber Insurance and AI

The panelists – Anna Delaney, director, productions; Mathew Schwartz, executive editor, DataBreachToday and Europe; Tom Field, senior vice president, editorial; and Suparna Goswami, associate editor, ISMG Asia – discussed:

• Highlights from ISMG’s coverage of RSA Conference 2024;




• The reason behind a 98% surge in synthetic ID fraud in the auto lending industry, leading to $7.9 billion in losses last year;




• How the U.K. government’s cybersecurity agency and three major insurance associations have pledged to offer better support and guidance to ransomware victims.

The ISMG Editors’ Panel runs weekly. Don’t miss our previous installments, including the May 3 edition on a preview of RSA Conference 2024 and the May 10 edition from the ISMG studio at RSA Conference 2024.